Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 14.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,499 shares of the semiconductor company's stock after selling 6,668 shares during the period. Atria Investments Inc's holdings in Marvell Technology were worth $4,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd lifted its stake in Marvell Technology by 581.8% in the 3rd 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 purchased a new position in Marvell Technology in the 3rd quarter worth approximately $120,116,000. Perpetual Ltd lifted its stake in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company's stock worth $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Nordea Investment Management AB lifted its stake in Marvell Technology by 14.0% in 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 in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock worth $206,418,000 after purchasing an additional 535,203 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on MRVL. Piper Sandler decreased their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday. Cantor Fitzgerald lifted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Needham & Company LLC reduced their price target on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, KeyCorp reduced their price target on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.68.

Marvell Technology Stock Down 2.0 %

Shares of NASDAQ:MRVL traded down $1.44 during trading on Friday, hitting $70.84. The company's stock had a trading volume of 38,787,463 shares, compared to its average volume of 12,675,750. The business has a 50 day moving average price of $108.27 and a two-hundred day moving average price of $93.84. The company has a market capitalization of $61.30 billion, a PE ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology's payout ratio is currently -23.53%.

Insider Buying and Selling

In related news, Director Brad W. Buss purchased 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company's stock.

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.