Checchi Capital Advisers LLC Sells 172 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Checchi Capital Advisers LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,686 shares of the semiconductor company’s stock after selling 172 shares during the period. Checchi Capital Advisers LLC’s holdings in Marvell Technology were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MRVL. Sabal Trust CO increased its stake in Marvell Technology by 63.8% during the 4th quarter. Sabal Trust CO now owns 12,237 shares of the semiconductor company’s stock worth $1,352,000 after acquiring an additional 4,765 shares during the period. National Pension Service increased its position in shares of Marvell Technology by 2.1% in the fourth quarter. National Pension Service now owns 1,942,528 shares of the semiconductor company’s stock worth $214,552,000 after purchasing an additional 39,058 shares during the period. Argonautica Private Wealth Management Inc. raised its stake in Marvell Technology by 3.7% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 4,895 shares of the semiconductor company’s stock valued at $541,000 after purchasing an additional 175 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new position in Marvell Technology in the 4th quarter valued at about $266,000. Finally, Denali Advisors LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at approximately $940,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MRVL shares. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Piper Sandler reissued an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a 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 stock a “buy” rating in a research report on Wednesday, December 4th. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Bank of America lifted their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the company’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 $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction 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 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Down 7.6 %

Shares of Marvell Technology stock opened at $87.65 on Friday. The stock has a market cap of $75.84 billion, a PE ratio of -51.56, 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. The company has a 50-day moving average of $112.03 and a two-hundred day moving average of $92.96. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio is currently -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.