Sigma Planning Corp Sells 1,048 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sigma Planning Corp trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,502 shares of the semiconductor company’s stock after selling 1,048 shares during the quarter. Sigma Planning Corp’s holdings in Marvell Technology were worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Temasek Holdings Private Ltd grew its stake in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares in the last quarter. Holocene Advisors LP acquired a new stake in Marvell Technology in the third quarter valued at $120,116,000. Van ECK Associates Corp grew its position in shares of Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Perpetual Ltd grew its position in shares of Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after acquiring an additional 682,457 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $97.91 on Tuesday. The company has a market cap of $84.72 billion, a price-to-earnings ratio of -57.59, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a fifty day moving average price of $113.05 and a 200-day moving average price of $92.76.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.25%. Marvell Technology’s dividend payout ratio is -14.12%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Loop Capital raised their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.