Independent Solutions Wealth Management LLC Decreases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Independent Solutions Wealth Management LLC cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,145 shares of the semiconductor company’s stock after selling 296 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Marvell Technology were worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRVL. Davidson Kempner Capital Management LP grew its holdings in shares of Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the period. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology during the 3rd quarter valued at $16,435,000. Charles Schwab Investment Management Inc. boosted its position in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after purchasing an additional 535,203 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Marvell Technology in the third quarter valued at about $3,432,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy purchased 13,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were acquired at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the transaction, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 175,000 shares of company stock worth $14,444,745. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent research reports. B. Riley boosted their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Stifel Nicolaus reissued a “buy” rating and issued a $125.00 price target (up from $114.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Citigroup boosted their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $119.04.

Marvell Technology Trading Up 3.9 %

Shares of MRVL stock traded up $4.11 on Thursday, hitting $109.39. The stock had a trading volume of 11,938,397 shares, compared to its average volume of 12,621,978. 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, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The company has a fifty day moving average price of $92.44 and a two-hundred day moving average price of $77.65. The firm has a market cap of $94.66 billion, a P/E ratio of -64.35, a PEG ratio of 3.72 and a beta of 1.46.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.