Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by RMR Wealth Builders

RMR Wealth Builders lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,840 shares of the semiconductor company’s stock after selling 493 shares during the period. RMR Wealth Builders’ holdings in Marvell Technology were worth $755,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tsfg LLC lifted its stake in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 111 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares in the last quarter. Crumly & Associates Inc. increased its position in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the period. United Capital Management of KS Inc. boosted its stake in shares of Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares in the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of Marvell Technology by 4.8% during the 4th quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at $3,797,121.35. The trade was a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 0.7 %

Shares of MRVL opened at $116.00 on Thursday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15. 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 stock has a 50 day moving average of $105.61 and a 200-day moving average of $83.85.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MRVL. Barclays boosted their price target on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital boosted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Rosenblatt Securities lifted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.68.

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.