Ieq Capital LLC Decreases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Ieq Capital LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,565 shares of the semiconductor company’s stock after selling 2,244 shares during the quarter. Ieq Capital LLC’s holdings in Marvell Technology were worth $6,469,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MRVL. Lodestone Wealth Management LLC grew its position in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 103 shares during the period. Tsfg LLC increased its stake in Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRVL. B. Riley upped their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Melius began coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. 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. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $108.66 on Friday. The company has a market cap of $94.03 billion, a P/E ratio of -63.92, a P/E/G ratio of 1.59 and a beta of 1.40. The firm’s 50 day moving average is $113.93 and its two-hundred day moving average is $91.69. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

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.