Edmond DE Rothschild Holding S.A. Trims Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Edmond DE Rothschild Holding S.A. trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 47.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 60,868 shares of the semiconductor company's stock after selling 54,005 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Marvell Technology were worth $6,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in shares of Marvell Technology by 3,028.5% in the 4th quarter. Meeder Asset Management Inc. now owns 16,706 shares of the semiconductor company's stock worth $1,845,000 after buying an additional 16,172 shares during the last quarter. Axiom Investors LLC DE bought a new stake in Marvell Technology in the fourth quarter worth about $2,656,000. AIA Group Ltd purchased a new position in Marvell Technology in the fourth quarter valued at about $640,000. Wellington Management Group LLP grew its position in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Marvell Technology by 23.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 36,778 shares of the semiconductor company's stock worth $4,062,000 after purchasing an additional 7,019 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a "buy" rating and a $188.00 price objective on the stock. Loop Capital raised shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. UBS Group increased their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, TD Cowen reduced their price target on Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $120.44.

Marvell Technology Trading Up 0.9 %

Shares of MRVL stock traded up $0.56 on Wednesday, hitting $63.23. 13,036,853 shares of the company's stock traded hands, compared to its average volume of 12,936,619. 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 market capitalization of $54.76 billion, a price-to-earnings ratio of -37.19, a P/E/G ratio of 1.61 and a beta of 1.42. The company's fifty day simple moving average is $91.56 and its 200 day simple moving average is $93.58. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio is presently -23.53%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company's stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last ninety days. 0.33% of the stock is owned by insiders.

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.