MassMutual Private Wealth & Trust FSB reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,848 shares of the semiconductor company's stock after selling 2,821 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Marvell Technology were worth $6,831,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC raised its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the second quarter worth $32,000. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company's stock.
Insiders Place Their Bets
In other news, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was 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 of the company's stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,755 shares of company stock worth $3,615,030. Corporate insiders own 0.33% of the company's stock.
Wall Street Analyst Weigh In
MRVL has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. 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. JPMorgan Chase & Co. upped their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Oppenheimer raised their price objective 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 and twenty-three have given a buy rating to the company's stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average target price of $124.96.
Check Out Our Latest Stock Report on MRVL
Marvell Technology Stock Performance
Shares of NASDAQ MRVL traded up $7.18 during trading on Monday, reaching $124.76. 14,849,059 shares of the company traded hands, compared to its average volume of 13,008,617. The stock has a market cap of $107.95 billion, a P/E ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. The firm's fifty day simple moving average is $106.70 and its 200 day simple moving average is $84.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15.
Marvell Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology's payout ratio is presently -14.12%.
Marvell Technology Profile
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Free Report)
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.
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