Fifth Third Wealth Advisors LLC Has $566,000 Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Fifth Third Wealth Advisors LLC lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,128 shares of the semiconductor company's stock after selling 2,186 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Marvell Technology were worth $566,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock worth $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock valued at $818,916,000 after acquiring an additional 219,692 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock valued at $627,034,000 after acquiring an additional 359,005 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in 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 worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company's stock, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares of the company's stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Marvell Technology stock traded up $7.18 during mid-day trading on Friday, hitting $124.76. 14,849,059 shares of the company were exchanged, compared to its average volume of 10,915,694. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $106.09 and a 200 day moving average of $84.09. The company has a market capitalization of $107.95 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Benchmark reissued a "buy" rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their price target on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Finally, Rosenblatt Securities increased their target price on Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $123.08.

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.