California State Teachers Retirement System Decreases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

California State Teachers Retirement System decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,362,776 shares of the semiconductor company's stock after selling 25,372 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Marvell Technology worth $150,519,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $27,000. Kieckhefer Group LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research analyst reports. Craig Hallum raised their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Roth Capital set a $100.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Melius assumed coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a "buy" rating and a $188.00 target price for the company. Finally, Morgan Stanley lowered their price target on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $114.56.

Marvell Technology Price Performance

Marvell Technology stock traded up $2.58 during midday trading on Thursday, reaching $60.95. 17,617,499 shares of the stock traded hands, compared to its average volume of 13,672,794. The stock's fifty day moving average is $65.58 and its 200-day moving average is $90.28. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The stock has a market cap of $52.79 billion, a P/E ratio of -35.85, a PEG ratio of 1.61 and a beta of 1.78. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.39%. Marvell Technology's payout ratio is currently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 12,460 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was 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. Insiders have sold 27,390 shares of company stock worth $1,937,938 over the last quarter. Insiders own 0.33% of the company's stock.

Marvell Technology 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.