MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 611,622 shares of the semiconductor company's stock after selling 68,966 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of Marvell Technology worth $67,625,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC boosted its holdings in Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc lifted its position in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC boosted its holdings in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Piper Sandler decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Bank of America lowered their target price on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

Marvell Technology Price Performance

Marvell Technology stock traded down $0.70 during mid-day trading on Thursday, reaching $65.20. The company had a trading volume of 9,947,544 shares, compared to its average volume of 13,992,250. The stock's 50-day simple moving average is $60.44 and its 200-day simple moving average is $88.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $56.32 billion, a P/E ratio of -38.35, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the company's 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 completion of the transaction, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This trade represents a 3.57% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 30,176 shares of company stock valued at $2,111,528 over the last quarter. Corporate insiders own 0.19% 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.