Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Bfsg LLC

Bfsg LLC lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,588 shares of the semiconductor company’s stock after selling 1,600 shares during the quarter. Marvell Technology accounts for approximately 1.4% of Bfsg LLC’s holdings, making the stock its 9th largest holding. Bfsg LLC’s holdings in Marvell Technology were worth $11,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Zweig DiMenna Associates LLC boosted its holdings in shares of 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 buying an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new position in Marvell Technology in the 4th quarter worth $637,000. RFG Advisory LLC increased its holdings in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the 3rd quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVL. Cantor Fitzgerald increased their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. B. Riley raised their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Up 2.9 %

MRVL opened at $106.51 on Tuesday. 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 fifty day simple moving average of $113.93 and a 200 day simple moving average of $91.10. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is owned by company insiders.

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.