Green Alpha Advisors LLC Sells 794 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Green Alpha Advisors LLC lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,465 shares of the semiconductor company’s stock after selling 794 shares during the period. Green Alpha Advisors LLC’s holdings in Marvell Technology were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in MRVL. State Street Corp boosted its stake in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP increased its position in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MRVL. Oppenheimer lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald boosted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, B. Riley raised their price target on Marvell Technology from $105.00 to $135.00 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 and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.28.

Marvell Technology Price Performance

Shares of MRVL stock opened at $114.32 on Monday. 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, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The stock has a fifty day simple moving average of $103.93 and a two-hundred day simple moving average of $82.88. The stock has a market capitalization of $98.92 billion, a price-to-earnings ratio of -67.25, a P/E/G ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at $8,875,366.50. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,000 shares of company stock valued at $15,163,420. 0.33% of the stock is currently 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.