Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,255 shares of the semiconductor company's stock after selling 4,303 shares during the quarter. Baird Financial Group Inc.'s holdings in Marvell Technology were worth $1,354,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $27,000. Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $35,000. Finally, Capital Analysts LLC boosted its position in shares of Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now directly owns 87,113 shares of the company's stock, valued at approximately $6,010,797. The trade was a 3.57% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 30,176 shares of company stock worth $2,111,528. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research reports. Piper Sandler lowered their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on Marvell Technology in a research report on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Thursday, March 6th. Finally, Needham & Company LLC lowered their price target on 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

Marvell Technology Stock Up 0.6%

Shares of Marvell Technology stock traded up $0.42 during trading on Wednesday, hitting $65.90. 11,447,080 shares of the stock traded hands, compared to its average volume of 14,008,379. The firm has a market cap of $56.93 billion, a P/E ratio of -38.76, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock's fifty day simple moving average is $60.44 and its 200 day simple moving average is $88.95.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology's dividend payout ratio is currently -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.