Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 466,622 shares of the semiconductor company's stock after selling 238,609 shares during the period. National Bank of Canada FI owned 0.05% of Marvell Technology worth $51,539,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MRVL. State Street Corp lifted its position in shares of Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock valued at $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the period. Geode Capital Management LLC grew its position in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock worth $818,916,000 after buying an additional 219,692 shares during the period. Norges Bank bought a new position in Marvell Technology in the fourth quarter worth approximately $1,138,354,000. Finally, GQG Partners LLC bought a new position in Marvell Technology in the 4th quarter valued at about $802,410,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Craig Hallum raised their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. The Goldman Sachs Group raised their price target on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, B. Riley raised their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Three 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. According to MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and a consensus target price of $120.44.

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Insider Transactions at Marvell Technology

In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

NASDAQ:MRVL traded up $0.56 during trading hours on Wednesday, reaching $63.23. 13,036,853 shares of the company were exchanged, compared to its average volume of 12,939,000. 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 twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market cap of $54.76 billion, a PE ratio of -37.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock's 50-day moving average is $90.32 and its 200-day moving average is $93.37.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Marvell Technology's dividend payout ratio is presently -23.53%.

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.