Advisor OS LLC Sells 33,111 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Advisor OS LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,680 shares of the semiconductor company’s stock after selling 33,111 shares during the quarter. Advisor OS LLC’s holdings in Marvell Technology were worth $2,063,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MRVL. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter valued at approximately $26,000. Kieckhefer Group LLC bought a new position in Marvell Technology during the fourth quarter valued at $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent research reports. Susquehanna upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. TD Cowen upped their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Oppenheimer boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 5.0 %

Shares of MRVL opened at $93.00 on Wednesday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a market capitalization of $80.47 billion, a P/E ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $112.66 and its 200 day simple moving average is $92.99.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -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.