New Century Financial Group LLC Has $569,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

New Century Financial Group LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 11.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,817 shares of the semiconductor company’s stock after selling 611 shares during the period. New Century Financial Group LLC’s holdings in Marvell Technology were worth $569,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Secure Asset Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $261,000. Avior Wealth Management LLC increased its position in Marvell Technology by 129.2% in the 4th quarter. Avior Wealth Management LLC now owns 3,124 shares of the semiconductor company’s stock valued at $345,000 after acquiring an additional 1,761 shares in the last quarter. Burr Financial Services LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $636,000. Raleigh Capital Management Inc. increased its holdings in shares of Marvell Technology by 512.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 582 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 487 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in Marvell Technology by 3.9% in the 4th quarter. Mutual Advisors LLC now owns 9,895 shares of the semiconductor company’s stock worth $1,163,000 after purchasing an additional 374 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday. Craig Hallum upped their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities raised their price target on Marvell Technology from $120.00 to $140.00 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-three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Marvell Technology Trading Up 0.7 %

Shares of MRVL stock opened at $126.06 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock’s fifty day moving average price is $108.68 and its two-hundred day moving average price is $85.65.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued 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 presently -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.