Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by PFG Advisors

PFG Advisors lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,490 shares of the semiconductor company’s stock after selling 762 shares during the quarter. PFG Advisors’ holdings in Marvell Technology were worth $3,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth High Governance Capital Ltda bought a new stake in shares of Marvell Technology in the 4th quarter worth $8,217,000. Briaud Financial Planning Inc raised its position in Marvell Technology by 41.3% in the fourth quarter. Briaud Financial Planning Inc now owns 848 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 248 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Marvell Technology by 75.1% in the 4th quarter. Citizens Financial Group Inc. RI now owns 13,733 shares of the semiconductor company’s stock valued at $1,517,000 after acquiring an additional 5,891 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of Marvell Technology by 83.8% during the 4th quarter. Independent Advisor Alliance now owns 29,780 shares of the semiconductor company’s stock valued at $3,289,000 after purchasing an additional 13,582 shares in the last quarter. Finally, Marvin & Palmer Associates Inc. acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $2,662,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $67.16 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $107.36 and a 200-day simple moving average of $93.97. The stock has a market capitalization of $58.11 billion, a price-to-earnings ratio of -39.51, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is -23.53%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brad W. Buss purchased 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MRVL shares. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Stifel Nicolaus decreased their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald upped their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC dropped their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Profile

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.