Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 94.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,158 shares of the semiconductor company's stock after selling 465,577 shares during the quarter. Paloma Partners Management Co's holdings in Marvell Technology were worth $2,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pine Valley Investments Ltd Liability Co lifted its position in Marvell Technology by 8.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company's stock valued at $1,716,000 after acquiring an additional 1,773 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of Marvell Technology by 1.4% in the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company's stock valued at $2,911,000 after buying an additional 560 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Marvell Technology in the 3rd quarter valued at about $3,432,000. Synovus Financial Corp raised its holdings in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company's stock valued at $468,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of Marvell Technology by 27.3% during the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company's stock valued at $1,681,000 after acquiring an additional 5,005 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the subject of several analyst reports. Citigroup lowered their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Craig Hallum increased their price target on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Stifel Nicolaus cut their target price on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Finally, Melius Research raised Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $114.56.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology 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 completion of the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,390 shares of company stock valued at $1,937,938 over the last 90 days. Insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL traded down $0.31 on Wednesday, reaching $58.37. The company's stock had a trading volume of 14,264,425 shares, compared to its average volume of 13,656,994. 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. The stock has a market capitalization of $50.55 billion, a P/E ratio of -34.34, a PEG ratio of 1.61 and a beta of 1.78. The stock's 50 day simple moving average is $65.58 and its two-hundred day simple moving average is $90.28.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

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.