Axa S.A. Sells 38,611 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

AXA S.A. cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 647,022 shares of the semiconductor company's stock after selling 38,611 shares during the quarter. AXA S.A. owned approximately 0.07% of Marvell Technology worth $71,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology during the 4th quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 28,890 shares of company stock valued at $2,027,938 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MRVL. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Piper Sandler reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Finally, William Blair upgraded Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Three research 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. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $114.56.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded down $0.35 during trading on Monday, reaching $61.98. The company's stock had a trading volume of 9,090,005 shares, compared to its average volume of 13,693,947. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The stock has a 50-day moving average price of $64.22 and a two-hundred day moving average price of $90.18. 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 market capitalization of $53.68 billion, a P/E ratio of -36.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

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.