First American Trust FSB Sells 6,192 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

First American Trust FSB decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,690 shares of the semiconductor company's stock after selling 6,192 shares during the period. Marvell Technology makes up 1.4% of First American Trust FSB's portfolio, making the stock its 18th biggest holding. First American Trust FSB's holdings in Marvell Technology were worth $13,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC raised its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. 83.51% of the stock is currently owned by institutional investors.

Insider Transactions at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,685 shares of company stock worth $4,026,768. Insiders own 0.33% of the company's stock.

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Marvell Technology Price Performance

MRVL stock traded down $2.82 during trading on Friday, hitting $62.04. 18,769,219 shares of the stock traded hands, compared to its average volume of 12,913,647. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a 50 day simple moving average of $94.05 and a 200 day simple moving average of $93.47. 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 stock has a market cap of $53.73 billion, a price-to-earnings ratio of -36.49, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio is currently -23.53%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Needham & Company LLC reduced their target price on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Melius Research raised Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group raised their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. 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. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $120.44.

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.