Blue Trust Inc. Has $489,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Blue Trust Inc. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 37.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,428 shares of the semiconductor company's stock after selling 2,674 shares during the quarter. Blue Trust Inc.'s holdings in Marvell Technology were worth $489,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have commented on MRVL. Stifel Nicolaus upped their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, January 6th. Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Citigroup upped their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.60.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares of the company's stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company's stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 over the last quarter. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Down 4.5 %

Shares of Marvell Technology stock traded down $4.86 on Friday, hitting $103.85. The stock had a trading volume of 11,006,714 shares, compared to its average volume of 12,895,910. The stock has a 50 day moving average of $113.59 and a 200 day moving average of $92.01. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month 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 firm has a market capitalization of $89.86 billion, a P/E ratio of -61.09, a PEG ratio of 1.64 and a beta of 1.40.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio is currently -14.12%.

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.