Phoenix Financial Ltd. Sells 7,957 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Phoenix Financial Ltd. decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,515 shares of the semiconductor company's stock after selling 7,957 shares during the period. Phoenix Financial Ltd.'s holdings in Marvell Technology were worth $1,272,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MRVL. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter worth approximately $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MRVL shares. TD Cowen reduced their price target on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. Morgan Stanley lowered their target price on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Bank of America lowered their price objective on Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $119.48.

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Marvell Technology Stock Performance

MRVL stock traded up $0.52 during midday trading on Friday, reaching $53.39. 17,706,981 shares of the company's stock traded hands, compared to its average volume of 13,434,520. The firm has a market capitalization of $46.24 billion, a PE ratio of -31.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The company has a 50-day moving average price of $79.86 and a two-hundred day moving average price of $92.05. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

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 issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the sale, the chief operating officer now directly owns 81,931 shares in the company, valued at $5,639,310.73. This trade represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,185 shares of company stock worth $3,131,018 in the last quarter. 0.33% of the stock is owned by company insiders.

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.