Public Employees Retirement Association of Colorado Sells 677,092 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Public Employees Retirement Association of Colorado reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,019,929 shares of the semiconductor company's stock after selling 677,092 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.12% of Marvell Technology worth $112,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Whalerock Point Partners LLC acquired a new position in Marvell Technology during the 4th quarter worth $258,000. Melqart Asset Management UK Ltd lifted its holdings in Marvell Technology by 8.9% during the 4th quarter. Melqart Asset Management UK Ltd now owns 214,197 shares of the semiconductor company's stock worth $23,658,000 after buying an additional 17,434 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Marvell Technology during the 4th quarter worth $24,752,000. Johnson Financial Group Inc. lifted its holdings in Marvell Technology by 125.0% during the 4th quarter. Johnson Financial Group Inc. now owns 423 shares of the semiconductor company's stock worth $48,000 after buying an additional 235 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in Marvell Technology during the 4th quarter worth $1,628,000. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brad W. Buss acquired 3,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 27,390 shares of company stock worth $1,937,938. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 4.8 %

NASDAQ MRVL traded up $2.82 on Thursday, hitting $61.19. The company's stock had a trading volume of 9,102,437 shares, compared to its average volume of 13,640,195. 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, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company's 50-day moving average is $65.58 and its 200 day moving average is $90.28. The firm has a market cap of $52.99 billion, a PE ratio of -35.92, a PEG ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

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

Analyst Ratings Changes

MRVL has been the topic of a number of analyst reports. Barclays cut their price target on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Stifel Nicolaus cut their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Summit Insights downgraded Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Piper Sandler reduced their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $114.56.

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.