Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Grove Bank & Trust

Grove Bank & Trust lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,610 shares of the semiconductor company's stock after selling 6,154 shares during the quarter. Grove Bank & Trust's holdings in Marvell Technology were worth $178,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology during the 2nd quarter worth about $32,000. Quarry LP purchased a new position in Marvell Technology during the second quarter valued at approximately $32,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MRVL shares. KeyCorp upped their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. UBS Group lifted their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Susquehanna raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $124.96.

Marvell Technology Stock Performance

NASDAQ:MRVL traded up $7.18 during mid-day trading on Monday, hitting $124.76. 14,849,059 shares of the company traded hands, compared to its average volume of 13,008,617. The firm has a market cap of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The stock's fifty day moving average price is $106.70 and its 200-day moving average price is $84.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

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

Insider Buying and Selling

In other news, EVP Mark Casper sold 7,755 shares of the firm's 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company's stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,755 shares of company stock worth $3,615,030 in the last three months. 0.33% of the stock is owned by insiders.

Marvell Technology Company 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.