Krilogy Financial LLC Sells 8,474 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Krilogy Financial LLC decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 27.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 22,114 shares of the semiconductor company’s stock after selling 8,474 shares during the quarter. Krilogy Financial LLC’s holdings in Marvell Technology were worth $2,442,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. True Wealth Design LLC raised its holdings in Marvell Technology by 1,481.8% in the 3rd 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 in the last quarter. ORG Partners LLC increased its position in shares of 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 purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the second quarter valued at $32,000. Quarry LP bought a new position in Marvell Technology in the second quarter worth $32,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the fourth quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MRVL. Susquehanna raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Oppenheimer raised 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $123.08.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $124.76 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The business has a 50-day moving average price of $106.70 and a two-hundred day moving average price of $84.55.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,755 shares of company stock valued at $4,099,650. 0.33% of the stock is currently owned by insiders.

Marvell Technology 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.