Principal Securities Inc. Sells 11,685 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Principal Securities Inc. decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 57.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,684 shares of the semiconductor company's stock after selling 11,685 shares during the quarter. Principal Securities Inc.'s holdings in Marvell Technology were worth $959,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Lodestone Wealth Management LLC raised its position in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after acquiring an additional 96 shares during the last quarter. Waldron Private Wealth LLC raised its position in shares of Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company's stock worth $327,000 after acquiring an additional 103 shares during the last quarter. Tsfg LLC raised its position in shares of Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock worth $176,000 after acquiring an additional 111 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Down 5.3 %

MRVL stock traded down $5.78 during trading on Friday, reaching $102.93. 4,503,338 shares of the stock were exchanged, compared to its average volume of 12,690,956. The firm's 50 day moving average is $113.93 and its 200 day moving average is $91.69. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market cap of $89.07 billion, a P/E ratio of -60.46, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40.

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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is currently -14.12%.

Analyst Ratings Changes

A number of research analysts have issued reports on MRVL shares. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Melius Research raised Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Barclays boosted their target price on Marvell Technology from $115.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Morgan Stanley decreased their target price on Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Finally, Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $127.60.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company's stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by company insiders.

Marvell Technology Company 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.