Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Cut by Stifel Financial Corp

Stifel Financial Corp trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,279,115 shares of the semiconductor company's stock after selling 17,393 shares during the period. Stifel Financial Corp owned 0.15% of Marvell Technology worth $141,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC boosted its holdings in shares of Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC lifted its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares during the period. Franchise Capital Ltd purchased a new position in Marvell Technology in the fourth quarter worth $1,476,000. Finally, United Asset Strategies Inc. boosted its position in shares of Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after purchasing an additional 14,547 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 2.8 %

Shares of MRVL stock traded up $1.59 during trading hours on Friday, hitting $58.92. 11,919,398 shares of the company were exchanged, compared to its average volume of 13,618,568. The business's 50-day simple moving average is $68.53 and its two-hundred day simple moving average is $90.58. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The stock has a market capitalization of $51.03 billion, a price-to-earnings ratio of -34.66, a P/E/G ratio of 1.61 and a beta of 1.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. 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 dividend payout ratio is presently -23.53%.

Analyst Ratings Changes

Several research analysts have weighed in on MRVL shares. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Benchmark restated a "buy" rating and issued a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. TD Cowen reduced their target price on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Finally, The Goldman Sachs Group upped their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday, January 10th. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.56.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The sale 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 business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold 27,390 shares of company stock valued at $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.