Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Trimmed by Paloma Partners Management Co

Paloma Partners Management Co lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 94.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,158 shares of the semiconductor company’s stock after selling 465,577 shares during the quarter. Paloma Partners Management Co’s holdings in Marvell Technology were worth $2,779,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Invesco Ltd. boosted its stake in Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Wellington Management Group LLP boosted its stake in Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after buying an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC boosted its stake in Marvell Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after buying an additional 80,005 shares in the last quarter. Norges Bank bought a new position in Marvell Technology during the fourth quarter valued at about $1,138,354,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock valued at $838,617,000 after buying an additional 1,691,242 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brad W. Buss bought 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 27,390 shares of company stock worth $1,937,938 in the last 90 days. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $58.70 on Tuesday. The company’s fifty day moving average is $67.49 and its 200-day moving average is $90.73. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The firm has a market cap of $50.84 billion, a price-to-earnings ratio of -34.53, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent analyst reports. TD Cowen decreased their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on Marvell Technology in a research report on Thursday, March 6th. Piper Sandler decreased their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Bank of America decreased their price target on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Marvell Technology 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.