Generali Investments Towarzystwo Funduszy Inwestycyjnych Sells 8,700 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Generali Investments Towarzystwo Funduszy Inwestycyjnych trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 24.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,300 shares of the semiconductor company’s stock after selling 8,700 shares during the period. Marvell Technology makes up approximately 1.7% of Generali Investments Towarzystwo Funduszy Inwestycyjnych’s portfolio, making the stock its 15th biggest position. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Marvell Technology were worth $2,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Linscomb Wealth Inc. raised its position in shares of Marvell Technology by 5.8% during the fourth quarter. Linscomb Wealth Inc. now owns 30,170 shares of the semiconductor company’s stock worth $3,332,000 after purchasing an additional 1,664 shares during the period. QRG Capital Management Inc. grew its position in Marvell Technology by 10.6% in the 4th quarter. QRG Capital Management Inc. now owns 38,451 shares of the semiconductor company’s stock valued at $4,247,000 after purchasing an additional 3,672 shares during the period. Proficio Capital Partners LLC bought a new stake in Marvell Technology during the 4th quarter valued at $39,858,000. Kovack Advisors Inc. raised its holdings in Marvell Technology by 9.4% during the fourth quarter. Kovack Advisors Inc. now owns 8,838 shares of the semiconductor company’s stock worth $976,000 after buying an additional 757 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Marvell Technology by 2.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 342,632 shares of the semiconductor company’s stock valued at $37,844,000 after buying an additional 9,400 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the 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 directly owns 97,244 shares in the company, valued at $11,912,390. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC upped their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. TD Cowen increased their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Melius began coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Finally, Loop Capital upped their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $87.65 on Friday. The stock has a market capitalization of $75.84 billion, a P/E ratio of -51.56, a PEG ratio of 1.61 and a beta of 1.40. The firm’s 50 day moving average is $112.03 and its 200 day moving average is $92.96. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

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.