Boothbay Fund Management LLC decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,349 shares of the semiconductor company's stock after selling 18,287 shares during the period. Boothbay Fund Management LLC's holdings in Marvell Technology were worth $7,107,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth approximately $27,000. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.
Marvell Technology Stock Up 4.8 %
MRVL stock traded up $2.79 during midday trading on Thursday, hitting $61.16. 8,164,197 shares of the company's stock were exchanged, compared to its average volume of 13,637,261. The stock has a market capitalization of $52.97 billion, a price-to-earnings ratio of -36.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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 has a 50 day moving average price of $65.58 and a 200-day moving average price of $90.28. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48.
Marvell Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology's dividend payout ratio (DPR) is -23.53%.
Insider Transactions at Marvell Technology
In other news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,390 shares of company stock valued at $1,937,938. Insiders own 0.33% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MRVL. Stifel Nicolaus lowered their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Bank of America decreased their target price on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Marvell Technology in a research note on Thursday, March 6th. Citigroup lowered their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Craig Hallum increased their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $114.56.
View Our Latest Research Report on Marvell Technology
About Marvell Technology
(
Free Report)
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.
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