Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 35,145 shares of the semiconductor company’s stock after selling 8,810 shares during the period. Richard Bernstein Advisors LLC’s holdings in Marvell Technology were worth $3,882,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MRVL. Swedbank AB boosted its position in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Marvell Technology by 7,142.2% during the third quarter. International Assets Investment Management LLC now owns 239,934 shares of the semiconductor company’s stock worth $17,304,000 after purchasing an additional 236,621 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Marvell Technology in the third quarter worth about $213,000. Nisa Investment Advisors LLC grew its stake in shares of Marvell Technology by 134.1% in the third quarter. Nisa Investment Advisors LLC now owns 133,995 shares of the semiconductor company’s stock valued at $9,664,000 after buying an additional 76,745 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Marvell Technology by 4.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 53,524 shares of the semiconductor company’s stock valued at $3,860,000 after buying an additional 2,145 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $93.00 on Wednesday. The company has a 50-day moving average price of $112.66 and a two-hundred day moving average price of $92.99. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market cap of $80.47 billion, a price-to-earnings ratio of -54.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Craig Hallum boosted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Evercore ISI raised their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus boosted their price target on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.60.

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.