Nan Shan Life Insurance Co. Ltd. Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Nan Shan Life Insurance Co. Ltd. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 57.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,367 shares of the semiconductor company's stock after selling 85,162 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in Marvell Technology were worth $7,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter worth $27,000. Financial Life Planners purchased a new position in Marvell Technology during the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. bought a new position in Marvell Technology in the fourth quarter worth approximately $35,000. Finally, Capital Analysts LLC increased its holdings in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares during the period. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $65.48 on Wednesday. The company has a market cap of $56.56 billion, a P/E ratio of -38.52, 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. 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 stock has a 50-day moving average of $60.54 and a two-hundred day moving average of $89.11.

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 dividend on an annualized basis and a yield of 0.37%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Analyst Ratings Changes

Several research analysts recently commented on MRVL shares. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Roth Capital set a $100.00 price objective on Marvell Technology in a research note on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. TD Cowen decreased their target price on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Marvell Technology in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. The trade was a 6.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were 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 sold 30,176 shares of company stock valued at $2,111,528 in the last 90 days. Company 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.

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