Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,493 shares of the semiconductor company’s stock after selling 3,534 shares during the period. Sanctuary Advisors LLC’s holdings in Marvell Technology were worth $7,888,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its position in shares of Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares during the period. Creative Planning grew its stake in Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after purchasing an additional 28,286 shares in the last quarter. Swedbank AB increased its holdings in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. Blue Trust Inc. raised its position in Marvell Technology by 19.6% in the 3rd quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on MRVL. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Loop Capital raised their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Morgan Stanley lowered their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

Shares of MRVL opened at $111.04 on Thursday. The stock has a market capitalization of $96.08 billion, a P/E ratio of -65.32, a P/E/G ratio of 1.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company’s fifty day moving average is $113.93 and its two-hundred day moving average is $91.57.

Marvell Technology Announces Dividend

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

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction 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. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last 90 days. Company insiders own 0.33% of the company’s stock.

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.