Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Cut by Waycross Partners LLC

Waycross Partners LLC lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,114 shares of the semiconductor company's stock after selling 25,717 shares during the period. Marvell Technology accounts for 2.7% of Waycross Partners LLC's investment portfolio, making the stock its 14th biggest position. Waycross Partners LLC's holdings in Marvell Technology were worth $20,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVL. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Financial Life Planners purchased a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Finally, Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company's 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 of the company's stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company's stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRVL shares. Stifel Nicolaus boosted their price target on Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, January 6th. TD Cowen upped their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Oppenheimer upped their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Stock Down 4.5 %

NASDAQ MRVL traded down $4.86 on Friday, hitting $103.85. 11,006,714 shares of the stock traded hands, compared to its average volume of 12,895,910. The stock has a 50-day moving average of $113.59 and a 200 day moving average of $92.01. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a market capitalization of $89.86 billion, a P/E ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

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

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.