International Assets Investment Management LLC Sells 236,361 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

International Assets Investment Management LLC lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 98.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,573 shares of the semiconductor company's stock after selling 236,361 shares during the quarter. International Assets Investment Management LLC's holdings in Marvell Technology were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI increased its stake in Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company's stock valued at $566,000 after purchasing an additional 116 shares during the last quarter. Crumly & Associates Inc. raised its position in shares of Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company's stock valued at $593,000 after acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased its stake in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company's stock valued at $2,470,000 after purchasing an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company's stock worth $716,000 after purchasing an additional 139 shares during the last quarter. Finally, ASB Consultores LLC increased its holdings in shares of Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company's stock worth $276,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on MRVL. Barclays boosted their target price on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus boosted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. TD Cowen upped their price target on Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $121.28.

Insider Activity

In other news, CEO Matthew J. Murphy acquired 13,000 shares of the business's stock in a transaction dated Monday, October 14th. The stock was bought at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the transaction, the chief executive officer now owns 221,915 shares of the company's stock, valued at $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock worth $15,163,420 over the last three months. 0.33% of the stock is currently owned by insiders.

Marvell Technology Trading Down 3.3 %

Shares of NASDAQ MRVL traded down $3.91 during trading on Friday, reaching $114.32. The company had a trading volume of 10,770,264 shares, compared to its average volume of 10,990,766. The stock has a market cap of $98.92 billion, a P/E ratio of -67.25, a PEG ratio of 4.03 and a beta of 1.41. 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, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The company's fifty day moving average price is $103.93 and its 200-day moving average price is $82.88.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

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.