Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 26.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,618,941 shares of the semiconductor company’s stock after selling 584,369 shares during the period. Fisher Asset Management LLC’s holdings in Marvell Technology were worth $178,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. 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 last quarter. First Trust Direct Indexing L.P. grew its stake in Marvell Technology by 23.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,759 shares of the semiconductor company’s stock worth $992,000 after buying an additional 2,584 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in Marvell Technology by 34.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 239,936 shares of the semiconductor company’s stock worth $17,304,000 after buying an additional 61,307 shares during the last quarter. Stephens Inc. AR grew its stake in Marvell Technology by 16.2% during the 3rd quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after buying an additional 1,175 shares during the last quarter. Finally, Americana Partners LLC acquired a new position in Marvell Technology during the 3rd quarter worth $315,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the 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 transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 4.8 %

Shares of MRVL opened at $91.82 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year 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 stock has a 50 day simple moving average of $111.63 and a 200-day simple moving average of $93.39. The stock has a market cap of $79.45 billion, a PE ratio of -54.01, a PEG ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio is -14.12%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MRVL shares. Melius assumed coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.