Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 127,098 shares of the semiconductor company’s stock after selling 2,188 shares during the quarter. Marvell Technology comprises about 2.6% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Bourgeon Capital Management LLC’s holdings in Marvell Technology were worth $14,038,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in Marvell Technology by 21.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock valued at $2,344,000 after acquiring an additional 5,969 shares during the period. Pacer Advisors Inc. boosted its position in Marvell Technology by 28.8% during the 2nd quarter. Pacer Advisors Inc. now owns 52,685 shares of the semiconductor company’s stock valued at $3,683,000 after purchasing an additional 11,792 shares during the period. Thrivent Financial for Lutherans grew its stake in Marvell Technology by 208.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 307,225 shares of the semiconductor company’s stock worth $21,476,000 after buying an additional 207,773 shares during the last quarter. Summit Trail Advisors LLC increased its position in Marvell Technology by 7.3% in the second quarter. Summit Trail Advisors LLC now owns 5,805 shares of the semiconductor company’s stock worth $406,000 after buying an additional 397 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Marvell Technology by 20.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,818 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 305 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,755 shares of company stock valued at $3,615,030. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Down 0.8 %

MRVL opened at $123.78 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business has a 50 day moving average price of $107.97 and a 200 day moving average price of $85.37. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15.

Marvell Technology Dividend Announcement

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 given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio is -14.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Craig Hallum increased their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Rosenblatt Securities lifted their price target on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Susquehanna boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Finally, Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a 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 stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.96.

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.