D.A. Davidson & CO. Has $6.32 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

D.A. Davidson & CO. cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,242 shares of the semiconductor company's stock after selling 2,814 shares during the quarter. D.A. Davidson & CO.'s holdings in Marvell Technology were worth $6,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Lodestone Wealth Management LLC grew 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 in the last quarter. Valley National Advisers Inc. grew its position in Marvell Technology by 0.4% in 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. Waldron Private Wealth LLC grew its position in Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company's stock valued at $327,000 after buying an additional 103 shares in the last quarter. Tsfg LLC grew its position in Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock valued at $176,000 after buying an additional 111 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after buying an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 5.5 %

Shares of NASDAQ MRVL traded down $6.01 during mid-day trading on Friday, reaching $102.70. The company had a trading volume of 4,895,008 shares, compared to its average volume of 12,706,080. 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 company has a market capitalization of $88.86 billion, a price-to-earnings ratio of -60.41, a PEG ratio of 1.64 and a beta of 1.40. The stock has a fifty day moving average of $113.93 and a two-hundred day moving average of $91.69. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MRVL. Barclays increased their target price on shares of Marvell Technology from $115.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a "buy" rating and a $188.00 target price for the company. Bank of America increased their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. 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 stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $127.60.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last quarter. Company insiders own 0.33% of the company's stock.

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.