Grove Bank & Trust Lowers Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Grove Bank & Trust lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 79.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,610 shares of the semiconductor company’s stock after selling 6,154 shares during the period. Grove Bank & Trust’s holdings in Marvell Technology were worth $178,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of MRVL. True Wealth Design LLC lifted its holdings in Marvell Technology by 1,481.8% in 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 lifted its stake in shares of Marvell Technology by 175.3% in the 4th 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 purchased a new stake in Marvell Technology during the second quarter worth $32,000. Quarry LP acquired a new stake in Marvell Technology during the second quarter valued at $32,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MRVL. Stifel Nicolaus raised their target price on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.96.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,755 shares of company stock worth $3,615,030. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

MRVL stock opened at $124.76 on Monday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. The business has a fifty day moving average of $106.70 and a two-hundred day moving average of $84.64.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. Marvell Technology’s payout ratio is currently -14.12%.

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.