Krilogy Financial LLC Trims Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Krilogy Financial LLC cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,114 shares of the semiconductor company's stock after selling 8,474 shares during the quarter. Krilogy Financial LLC's holdings in Marvell Technology were worth $2,442,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MRVL. Ameriprise Financial Inc. grew its holdings in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd grew its stake in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP bought a new position in shares of Marvell Technology during the 3rd quarter worth $120,116,000. Van ECK Associates Corp increased its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new stake in Marvell Technology during the second quarter valued at about $108,204,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. TD Cowen lifted their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. KeyCorp boosted their target price on shares of Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Barclays lifted their price target on Marvell Technology from $115.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday. Finally, The Goldman Sachs Group raised their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.08.

Marvell Technology Price Performance

NASDAQ:MRVL traded up $7.18 during mid-day trading on Friday, reaching $124.76. The stock had a trading volume of 14,849,059 shares, compared to its average volume of 13,008,617. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a 50 day moving average price of $106.70 and a two-hundred day moving average price of $84.55. The stock has a market capitalization of $107.95 billion, a P/E ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the business'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 disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,099,650 in 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.