Cambiar Investors LLC Sells 467,590 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Cambiar Investors LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 95.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,604 shares of the semiconductor company’s stock after selling 467,590 shares during the quarter. Cambiar Investors LLC’s holdings in Marvell Technology were worth $2,497,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRVL. True Wealth Design LLC lifted its position 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 last quarter. ORG Partners LLC lifted its position 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 last quarter. Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners bought a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Whittier Trust Co. lifted its position 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 last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MRVL. Barclays boosted their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Susquehanna boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Loop Capital boosted their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Up 2.0 %

Shares of MRVL stock opened at $112.80 on Tuesday. The business’s fifty day moving average is $114.26 and its 200 day moving average is $89.63. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. Insiders own 0.33% of the company’s stock.

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.