MJP Associates Inc. ADV Sells 10,057 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

MJP Associates Inc. ADV reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 43.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,981 shares of the semiconductor company's stock after selling 10,057 shares during the period. MJP Associates Inc. ADV's holdings in Marvell Technology were worth $1,434,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at about $26,000. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter valued at about $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MRVL. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. KeyCorp cut their target price on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Barclays dropped their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus cut their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Cantor Fitzgerald cut Marvell Technology from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $125.00 to $60.00 in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $110.30.

Marvell Technology Stock Performance

Shares of MRVL opened at $59.65 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm's fifty day simple moving average is $61.19 and its two-hundred day simple moving average is $89.40. The stock has a market capitalization of $51.53 billion, a P/E ratio of -35.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the sale, the chief financial officer now owns 124,348 shares of the company's stock, valued at approximately $7,460,880. The trade was a 1.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,890 shares of company stock valued at $2,027,938. 0.33% of the stock is currently owned by company insiders.

About Marvell Technology

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.

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