Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,145 shares of the semiconductor company's stock after selling 22,408 shares during the period. Tidal Investments LLC's holdings in Marvell Technology were worth $8,852,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Zweig DiMenna Associates LLC increased its stake in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at about $637,000. RFG Advisory LLC increased its stake in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Marvell Technology during the 4th quarter valued at about $234,000. Finally, United Asset Strategies Inc. increased its stake in Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after buying an additional 14,547 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MRVL. 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 report on Thursday, March 6th. Morgan Stanley reduced their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. KeyCorp reduced their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reduced their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $110.69.

Marvell Technology Stock Performance

MRVL stock opened at $62.56 on Tuesday. The stock has a market cap of $54.04 billion, a P/E ratio of -36.80, a P/E/G ratio of 1.61 and a beta of 1.83. The firm has a 50 day simple moving average of $60.22 and a 200 day simple moving average of $88.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, April 11th. Marvell Technology's payout ratio is presently -23.53%.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by corporate 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.

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