Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,064 shares of the semiconductor company's stock after selling 29,145 shares during the period. Gateway Investment Advisers LLC's holdings in Marvell Technology were worth $9,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC grew its holdings in Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock valued at $176,000 after purchasing an additional 111 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company's stock valued at $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. lifted its stake in Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company's stock valued at $593,000 after purchasing an additional 121 shares during the last quarter. United Capital Management of KS Inc. increased its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company's stock worth $2,470,000 after buying an additional 131 shares during the last quarter. Finally, Sunflower Bank N.A. lifted its position in shares of Marvell Technology by 4.8% in the fourth quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company's stock valued at $332,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRVL. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Craig Hallum boosted their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Barclays upped their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday. Bank of America lifted their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.08.

Marvell Technology Stock Performance

Shares of MRVL traded up $7.18 during mid-day trading on Friday, hitting $124.76. 14,849,059 shares of the company's stock were exchanged, compared to its average volume of 10,915,694. The stock's 50-day simple moving average is $106.09 and its 200-day simple moving average is $84.09. The firm has a market cap of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Announces Dividend

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

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company's stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock worth $2,967,670 over the last quarter. 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.