Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,027 shares of the semiconductor company's stock after selling 14,276 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Marvell Technology were worth $4,863,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MRVL. Temasek Holdings Private Ltd increased its holdings in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock valued at $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Marvell Technology in the third quarter valued at approximately $120,116,000. Van ECK Associates Corp increased its holdings in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company's stock valued at $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company's stock valued at $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MRVL shares. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. UBS Group increased their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Craig Hallum increased their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Loop Capital increased their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities increased their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Stock Performance

Shares of MRVL traded up $3.01 during midday trading on Friday, reaching $106.51. 13,532,440 shares of the stock were exchanged, compared to its average volume of 13,070,750. The business's 50-day moving average price is $113.94 and its 200 day moving average price is $90.62. The company has a quick ratio of 1.11, a current ratio of 1.60 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.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company's stock, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is owned by corporate 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.