Marvell Technology, Inc. (NASDAQ:MRVL) Stake Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 25.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,684 shares of the semiconductor company’s stock after selling 22,741 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Marvell Technology were worth $7,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Swedbank AB raised its holdings in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Marvell Technology by 23.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,759 shares of the semiconductor company’s stock valued at $992,000 after acquiring an additional 2,584 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Marvell Technology by 34.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 239,936 shares of the semiconductor company’s stock valued at $17,304,000 after acquiring an additional 61,307 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Marvell Technology by 16.2% during the 3rd quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock valued at $606,000 after acquiring an additional 1,175 shares during the last quarter. Finally, Americana Partners LLC acquired a new position in shares of Marvell Technology during the 3rd quarter valued at about $315,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Up 4.8 %

NASDAQ MRVL opened at $91.82 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $112.03 and its two-hundred day moving average is $92.96. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of -54.01, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s payout ratio is presently -14.12%.

Analyst Ratings Changes

A number of research analysts have recently commented on MRVL shares. The Goldman Sachs Group increased their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Melius began coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Three equities research 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’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 transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now directly owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Company 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.