Jump Financial LLC Sells 56,964 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Jump Financial LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 90.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,674 shares of the semiconductor company's stock after selling 56,964 shares during the quarter. Jump Financial LLC's holdings in Marvell Technology were worth $627,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC increased its holdings in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after acquiring an additional 90 shares during the last quarter. PDS Planning Inc increased its stake in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC raised its position in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 6.2 %

Shares of NASDAQ:MRVL opened at $53.76 on Thursday. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. 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's 50-day moving average price is $70.48 and its 200-day moving average price is $90.80. The stock has a market capitalization of $46.56 billion, a P/E ratio of -31.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 14,930 shares of company stock worth $1,252,638. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MRVL shares. KeyCorp lowered their target price on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Needham & Company LLC dropped their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Citigroup decreased their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Bank of America cut their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong 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 target price of $114.56.

Marvell Technology 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.

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