Public Employees Retirement System of Ohio Decreases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Public Employees Retirement System of Ohio trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 471,120 shares of the semiconductor company's stock after selling 98,027 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of Marvell Technology worth $52,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC lifted its stake in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $637,000. RFG Advisory LLC lifted its stake in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $234,000. Finally, United Asset Strategies Inc. lifted its stake in shares of Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after purchasing an additional 14,547 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer now directly owns 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on 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. Over the last 90 days, insiders sold 33,541 shares of company stock worth $2,079,948. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

MRVL has been the subject of a number of recent analyst reports. Benchmark decreased their price target on shares of Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. TD Cowen reduced their price target on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Bank of America dropped their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Melius lowered shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a research note on Thursday, May 22nd. Finally, Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.22.

Marvell Technology Stock Up 7.7%

Shares of MRVL stock traded up $4.65 on Tuesday, hitting $65.34. The stock had a trading volume of 10,783,315 shares, compared to its average volume of 14,184,796. The business has a 50 day moving average of $59.39 and a 200 day moving average of $87.61. The stock has a market cap of $56.45 billion, a price-to-earnings ratio of -38.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48.

Marvell Technology Announces Dividend

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

Marvell Technology Company 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.