Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,098,922 shares of the semiconductor company's stock after selling 763,229 shares during the period. Marvell Technology comprises about 0.7% of Nomura Asset Management Co. Ltd.'s investment portfolio, making the stock its 17th biggest position. Nomura Asset Management Co. Ltd. owned 0.24% of Marvell Technology worth $231,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRVL. Cerity Partners LLC raised its holdings in shares of Marvell Technology by 84.3% during the third quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company's stock valued at $4,401,000 after acquiring an additional 27,902 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Marvell Technology in the 3rd quarter worth $516,000. D.A. Davidson & CO. lifted its position in shares of Marvell Technology by 8.5% in the 3rd quarter. D.A. Davidson & CO. now owns 60,056 shares of the semiconductor company's stock worth $4,331,000 after purchasing an additional 4,718 shares during the period. Townsquare Capital LLC boosted its stake in shares of Marvell Technology by 54.9% during the 3rd quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company's stock valued at $842,000 after purchasing an additional 4,136 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in shares of Marvell Technology during the third quarter valued at about $215,000. Institutional investors own 83.51% of the company's stock.

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Marvell Technology Stock Down 3.3 %

NASDAQ:MRVL traded down $2.06 during trading hours on Monday, reaching $59.98. The company's stock had a trading volume of 6,358,719 shares, compared to its average volume of 16,016,575. The stock has a 50 day moving average price of $94.05 and a two-hundred day moving average price of $93.75. 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 $51.95 billion, a P/E ratio of -35.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company's stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 over the last quarter. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MRVL shares. Wells Fargo & Company reiterated an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. TD Cowen lowered their price objective on Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Evercore ISI boosted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. Finally, Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.44.

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.