Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Decreased by GAM Holding AG

GAM Holding AG reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 81.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,983 shares of the semiconductor company's stock after selling 30,817 shares during the period. GAM Holding AG's holdings in Marvell Technology were worth $771,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MRVL. Venturi Wealth Management LLC raised its holdings in Marvell Technology by 993.5% in the fourth quarter. Venturi Wealth Management LLC now owns 2,712 shares of the semiconductor company's stock valued at $300,000 after buying an additional 2,464 shares during the period. Pinnbrook Capital Management LP purchased a new position in Marvell Technology in the fourth quarter valued at approximately $1,493,000. CIBC Asset Management Inc raised its holdings in Marvell Technology by 3.5% in the fourth quarter. CIBC Asset Management Inc now owns 197,102 shares of the semiconductor company's stock valued at $21,770,000 after buying an additional 6,699 shares during the period. Principal Financial Group Inc. raised its holdings in Marvell Technology by 385.7% in the fourth quarter. Principal Financial Group Inc. now owns 135,258 shares of the semiconductor company's stock valued at $14,939,000 after buying an additional 107,410 shares during the period. Finally, Americana Partners LLC raised its holdings in Marvell Technology by 9.3% in the fourth quarter. Americana Partners LLC now owns 4,776 shares of the semiconductor company's stock valued at $528,000 after buying an additional 406 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Marvell Technology stock traded down $4.86 during mid-day trading on Friday, reaching $103.85. The company's stock had a trading volume of 11,006,714 shares, compared to its average volume of 12,895,910. The firm has a market cap of $89.86 billion, a price-to-earnings ratio of -61.09, a PEG ratio of 1.64 and a beta of 1.40. The business has a 50 day moving average price of $113.93 and a 200-day moving average price of $91.69. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on MRVL. B. Riley raised their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Bank of America raised their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Craig Hallum increased their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Rosenblatt Securities increased their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.60.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.