Certuity LLC Reduces Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Certuity LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% in the 4th quarter, HoldingsChannel reports. The fund owned 7,495 shares of the semiconductor company’s stock after selling 736 shares during the quarter. Certuity LLC’s holdings in Marvell Technology were worth $828,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners purchased a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Whittier Trust Co. lifted its holdings in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MRVL shares. B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. KeyCorp increased their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. 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 research report on Wednesday, December 4th. Finally, Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Performance

Shares of MRVL opened at $109.12 on Wednesday. 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 one year low of $53.19 and a one year high of $127.48. The business has a fifty day moving average of $114.53 and a 200 day moving average of $89.94.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,755 shares of company stock valued at $4,361,430. Company insiders own 0.33% of the company’s stock.

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.