Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,457 shares of the semiconductor company's stock after selling 3,803 shares during the period. Kingswood Wealth Advisors LLC's holdings in Marvell Technology were worth $824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Investments LLC increased its position in shares of Marvell Technology by 43.8% in the 4th quarter. PFG Investments LLC now owns 4,373 shares of the semiconductor company's stock valued at $483,000 after purchasing an additional 1,332 shares during the last quarter. Drive Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter valued at $260,000. Patton Albertson Miller Group LLC raised its stake in Marvell Technology by 1.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company's stock valued at $828,000 after buying an additional 120 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Marvell Technology by 175.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 9,095 shares of the semiconductor company's stock worth $1,005,000 after buying an additional 5,791 shares during the last quarter. Finally, Carr Financial Group Corp acquired a new position in shares of Marvell Technology during the 4th quarter worth about $440,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock traded up $2.53 during trading on Friday, reaching $112.86. 15,195,969 shares of the company were exchanged, compared to its average volume of 11,848,386. 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 stock's 50 day moving average price is $111.72 and its 200 day moving average price is $87.51. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a market cap of $97.66 billion, a P/E ratio of -66.39, a PEG ratio of 3.51 and a beta of 1.41.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 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 $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 in the last ninety days. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

MRVL has been the subject of several recent analyst reports. KeyCorp boosted their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. TD Cowen upped their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Barclays lifted their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Morgan Stanley decreased their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald boosted their target price on Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology 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.