SteelPeak Wealth LLC Sells 16,797 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

SteelPeak Wealth LLC trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,706 shares of the semiconductor company’s stock after selling 16,797 shares during the quarter. Marvell Technology makes up 0.8% of SteelPeak Wealth LLC’s portfolio, making the stock its 26th biggest position. SteelPeak Wealth LLC’s holdings in Marvell Technology were worth $20,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Tsfg LLC grew its position in shares of Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after buying an additional 111 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 116 shares during the last quarter. Patton Albertson Miller Group LLC raised its position in shares of Marvell Technology by 1.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock valued at $828,000 after acquiring an additional 120 shares during the last quarter. Crumly & Associates Inc. lifted its stake in shares of Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 121 shares during the period. Finally, United Capital Management of KS Inc. lifted its stake in shares of Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a report on Tuesday. Craig Hallum upped their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. KeyCorp upped their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Benchmark reissued a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Up 3.5 %

Shares of NASDAQ:MRVL opened at $103.88 on Wednesday. The company’s 50-day moving average price is $110.63 and its two-hundred day moving average price is $86.85. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. 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 stock has a market capitalization of $89.89 billion, a PE ratio of -61.11, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. 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.