Sanctuary Advisors LLC Sells 3,534 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sanctuary Advisors LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,493 shares of the semiconductor company's stock after selling 3,534 shares during the period. Sanctuary Advisors LLC's holdings in Marvell Technology were worth $7,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Marvell Technology by 385.7% during the fourth quarter. Principal Financial Group Inc. now owns 135,258 shares of the semiconductor company's stock worth $14,939,000 after purchasing an additional 107,410 shares during the period. Americana Partners LLC lifted its stake in shares of Marvell Technology by 9.3% in the fourth quarter. Americana Partners LLC now owns 4,776 shares of the semiconductor company's stock valued at $528,000 after buying an additional 406 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at $44,000. Csenge Advisory Group grew its holdings in shares of Marvell Technology by 15.9% during the fourth quarter. Csenge Advisory Group now owns 3,893 shares of the semiconductor company's stock valued at $430,000 after buying an additional 535 shares during the last quarter. Finally, WD Rutherford LLC raised its holdings in shares of Marvell Technology by 37.7% in the 4th quarter. WD Rutherford LLC now owns 25,158 shares of the semiconductor company's stock worth $2,779,000 after acquiring an additional 6,892 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the company's 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. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

MRVL traded down $6.00 on Friday, reaching $102.71. The company had a trading volume of 4,895,008 shares, compared to its average volume of 12,706,080. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a market cap of $88.87 billion, a price-to-earnings ratio of -60.41, a P/E/G ratio of 1.64 and a beta of 1.40. 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 business has a 50 day simple moving average of $113.93 and a 200 day simple moving average of $91.69.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Oppenheimer lifted their target price on Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Bank of America increased their price target on Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. B. Riley lifted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, TD Cowen increased their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $127.60.

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.