Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Bokf Na

Bokf Na decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,643 shares of the semiconductor company’s stock after selling 417 shares during the period. Bokf Na’s holdings in Marvell Technology were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners acquired a new stake in shares of Marvell Technology in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the transaction, the chief financial officer now directly owns 124,348 shares of the company’s stock, valued at $7,460,880. This represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 28,890 shares of company stock valued at $2,027,938 in the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 8.0 %

Shares of NASDAQ MRVL opened at $56.31 on Thursday. The business has a 50-day moving average price of $62.33 and a 200 day moving average price of $89.62. The stock has a market cap of $48.64 billion, a PE ratio of -33.12, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. 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, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MRVL shares. Cantor Fitzgerald lowered shares of Marvell Technology from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $60.00 in a report on Wednesday. KeyCorp reduced their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.30.

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.