Robertson Stephens Wealth Management LLC Sells 3,198 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Robertson Stephens Wealth Management LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 32.9% during the fourth quarter, Holdings Channel reports. The firm owned 6,516 shares of the semiconductor company’s stock after selling 3,198 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Marvell Technology were worth $720,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Zweig DiMenna Associates LLC grew its position in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new position in Marvell Technology in the fourth quarter valued at about $637,000. RFG Advisory LLC grew its position in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology in the third quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its position in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MRVL. Loop Capital lifted their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Down 7.2 %

Shares of MRVL stock opened at $110.62 on Friday. The company has a market cap of $95.72 billion, a P/E ratio of -65.07, a PEG ratio of 3.71 and a beta of 1.40. The stock has a 50 day simple moving average of $113.59 and a two-hundred day simple moving average of $88.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. 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.