Focus Financial Network Inc. Sells 3,812 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Focus Financial Network Inc. cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,565 shares of the semiconductor company's stock after selling 3,812 shares during the period. Focus Financial Network Inc.'s holdings in Marvell Technology were worth $504,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zweig DiMenna Associates LLC increased its holdings in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC raised its holdings in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in Marvell Technology during the 3rd quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after acquiring an additional 66,654 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MRVL shares. Loop Capital lifted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Stock Up 2.9 %

MRVL stock traded up $3.01 during midday trading on Monday, reaching $106.51. 13,532,440 shares of the company's stock traded hands, compared to its average volume of 13,070,750. 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 firm's fifty day moving average price is $113.93 and its 200-day moving average price is $91.10. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a market cap of $92.16 billion, a price-to-earnings ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. 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 payout ratio is presently -14.12%.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company's stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock worth $3,692,880 in the last quarter. Insiders own 0.33% of the company's stock.

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.