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Steph & Co. Sells 2,314 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Marvell Technology logo with Computer and Technology background

Steph & Co. reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 48.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,492 shares of the semiconductor company's stock after selling 2,314 shares during the quarter. Steph & Co.'s holdings in Marvell Technology were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Ameriprise Financial Inc. raised its stake in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Temasek Holdings Private Ltd grew 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 worth $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP bought a new stake in shares of Marvell Technology in the third quarter worth $120,116,000. Van ECK Associates Corp grew its holdings in Marvell Technology by 26.6% during 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 period. Finally, D1 Capital Partners L.P. bought a new stake in Marvell Technology during the second quarter valued at about $108,204,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

MRVL stock traded up $1.58 on Thursday, hitting $117.58. 12,171,898 shares of the company's stock traded hands, compared to its average volume of 10,521,574. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The stock has a fifty day moving average of $105.61 and a 200-day moving average of $83.85. 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 stock has a market cap of $101.74 billion, a price-to-earnings ratio of -69.16, a P/E/G ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.20%. Marvell Technology's dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

MRVL has been the topic of several research analyst reports. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Cantor Fitzgerald upped their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Stifel Nicolaus upped their target price on Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, KeyCorp increased their price objective on Marvell Technology from $95.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.68.

Read Our Latest Report on Marvell Technology

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company's stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,500 shares of company stock worth $2,967,670. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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