Hartline Investment Corp Sells 17,306 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Hartline Investment Corp trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 368,106 shares of the semiconductor company’s stock after selling 17,306 shares during the period. Marvell Technology makes up about 4.7% of Hartline Investment Corp’s holdings, making the stock its 5th largest holding. Hartline Investment Corp’s holdings in Marvell Technology were worth $40,657,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Brookstone Capital Management bought a new stake in Marvell Technology during the 3rd quarter valued at approximately $216,000. CWM LLC boosted its position in shares of Marvell Technology by 17.6% in the third quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after acquiring an additional 3,760 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Marvell Technology by 265.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,691 shares of the semiconductor company’s stock worth $483,000 after acquiring an additional 4,859 shares during the last quarter. Valeo Financial Advisors LLC increased its position in Marvell Technology by 9.3% during the third quarter. Valeo Financial Advisors LLC now owns 10,757 shares of the semiconductor company’s stock worth $776,000 after acquiring an additional 917 shares during the period. Finally, Inspire Investing LLC raised its stake in Marvell Technology by 5.6% during the 3rd quarter. Inspire Investing LLC now owns 3,981 shares of the semiconductor company’s stock valued at $287,000 after purchasing an additional 210 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MRVL shares. Barclays raised their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. B. Riley boosted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group upped their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 2.0 %

Shares of MRVL opened at $112.80 on Tuesday. The stock has a fifty day moving average price of $114.26 and a two-hundred day moving average price of $89.63. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Marvell Technology Dividend Announcement

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

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.