Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by GTS Securities LLC

GTS Securities LLC lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 38.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,651 shares of the semiconductor company's stock after selling 30,984 shares during the period. GTS Securities LLC's holdings in Marvell Technology were worth $5,374,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intrepid Financial Planning Group LLC raised its holdings in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after acquiring an additional 90 shares during the last quarter. PDS Planning Inc increased its holdings in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after acquiring an additional 92 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. grew its stake in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRVL. Rosenblatt Securities reiterated a "buy" rating and issued a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Cantor Fitzgerald downgraded Marvell Technology from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $125.00 to $60.00 in a report on Wednesday, May 7th. Summit Insights downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. Finally, Bank of America reduced their price target on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.22.

Marvell Technology Trading Up 7.4%

Shares of MRVL stock traded up $4.48 during mid-day trading on Tuesday, hitting $65.17. 9,967,579 shares of the company's stock were exchanged, compared to its average volume of 14,181,603. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The stock has a 50-day simple moving average of $59.39 and a two-hundred day simple moving average of $87.61. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $56.30 billion, a price-to-earnings ratio of -38.33, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company's stock, valued at approximately $6,010,797. This represents a 3.57% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 33,541 shares of company stock worth $2,079,948. 0.19% of the stock is owned by insiders.

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.