Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 755,390 shares of the semiconductor company's stock after selling 59,970 shares during the quarter. Marvell Technology comprises about 3.8% of Nippon Life Global Investors Americas Inc.'s portfolio, making the stock its 6th largest holding. Nippon Life Global Investors Americas Inc. owned approximately 0.09% of Marvell Technology worth $83,433,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. ORG Partners LLC raised its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $27,000. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $33,000. Finally, Financial Life Planners acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $33,000. Institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 12,460 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 cost 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 in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 27,390 shares of company stock worth $1,937,938. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

MRVL stock traded up $1.59 during mid-day trading on Friday, reaching $58.92. The company's stock had a trading volume of 11,919,398 shares, compared to its average volume of 13,618,568. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. 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 stock has a market cap of $51.03 billion, a PE ratio of -34.66, a P/E/G ratio of 1.61 and a beta of 1.78. The company's 50 day moving average is $68.53 and its two-hundred day moving average is $90.58.

Marvell Technology Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. Marvell Technology's payout ratio is currently -23.53%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. 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. Barclays reduced their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday. Rosenblatt Securities restated a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Melius Research raised Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.56.

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.