Kintegral Advisory LLC Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Kintegral Advisory LLC cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.4% during the 4th quarter, Holdings Channel reports. The fund owned 11,987 shares of the semiconductor company’s stock after selling 558 shares during the period. Kintegral Advisory LLC’s holdings in Marvell Technology were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth $26,000. Waterfront Wealth Inc. raised its stake in shares of Marvell Technology by 1.1% in the fourth quarter. Waterfront Wealth Inc. now owns 10,592 shares of the semiconductor company’s stock worth $1,170,000 after buying an additional 116 shares during the period. Aspen Investment Management Inc raised its stake in shares of Marvell Technology by 9.3% in the fourth quarter. Aspen Investment Management Inc now owns 4,988 shares of the semiconductor company’s stock worth $551,000 after buying an additional 426 shares during the period. Forte Capital LLC ADV purchased a new position in shares of Marvell Technology during the 4th quarter valued at about $247,000. Finally, ING Groep NV grew its stake in shares of Marvell Technology by 17.7% during the 4th quarter. ING Groep NV now owns 71,162 shares of the semiconductor company’s stock valued at $7,860,000 after acquiring an additional 10,689 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 4.5 %

Shares of NASDAQ MRVL opened at $103.85 on Friday. The stock has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. 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 firm’s 50-day moving average price is $113.59 and its 200-day moving average price is $92.25.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on MRVL shares. Stifel Nicolaus raised their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. B. Riley lifted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC increased their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer boosted 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 investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.60.

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.