Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 31.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,295 shares of the semiconductor company's stock after selling 2,826 shares during the period. Capital Investment Counsel Inc's holdings in Marvell Technology were worth $695,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MRVL. Lodestone Wealth Management LLC boosted its position in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. lifted its position in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after purchasing an additional 96 shares during the period. Waldron Private Wealth LLC lifted its position in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company's stock worth $327,000 after purchasing an additional 103 shares during the period. Tsfg LLC lifted its position in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock worth $176,000 after purchasing an additional 111 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 112 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

MRVL traded down $4.86 during midday trading on Friday, hitting $103.85. 11,006,714 shares of the company traded hands, compared to its average volume of 12,895,910. 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 company has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a PEG ratio of 1.64 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The business has a 50 day simple moving average of $113.59 and a two-hundred day simple moving average of $92.01.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MRVL shares. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a "buy" rating and a $188.00 target price for the company. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Loop Capital increased their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.60.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company's stock, valued at $11,912,390. This trade represents a 5.81 % 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, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

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.