Marvell Technology, Inc. (NASDAQ:MRVL) is Mendel Money Management's 7th Largest Position

Mendel Money Management cut its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,950 shares of the semiconductor company's stock after selling 3,955 shares during the period. Marvell Technology makes up about 2.4% of Mendel Money Management's investment portfolio, making the stock its 7th largest holding. Mendel Money Management's holdings in Marvell Technology were worth $5,296,000 at the end of the most recent reporting period.

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

Remove Ads

Insider Activity at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company's stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 in the last 90 days. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL traded down $2.82 during trading hours on Friday, hitting $62.04. The stock had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,647. The firm has a 50-day moving average price of $94.05 and a 200 day moving average price of $93.62. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a market capitalization of $53.73 billion, a price-to-earnings ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th 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 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Analyst Ratings Changes

Several research firms recently weighed in on MRVL. Susquehanna lifted their target price on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a "buy" rating and a $188.00 price target on the stock. Needham & Company LLC decreased their target price on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Finally, Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.44.

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.