Sphera Funds Management LTD. Sells 9,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sphera Funds Management LTD. lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,611 shares of the semiconductor company's stock after selling 9,000 shares during the quarter. Marvell Technology makes up approximately 1.6% of Sphera Funds Management LTD.'s portfolio, making the stock its 19th largest holding. Sphera Funds Management LTD.'s holdings in Marvell Technology were worth $8,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in Marvell Technology during the fourth quarter valued at approximately $27,000. Financial Life Planners acquired a new position in Marvell Technology during the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. acquired a new position in Marvell Technology during the fourth quarter valued at approximately $35,000. Finally, GHP Investment Advisors Inc. grew its holdings in Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $1.44 on Friday, hitting $63.76. The stock had a trading volume of 18,619,351 shares, compared to its average volume of 14,035,225. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm's 50 day moving average price is $60.36 and its 200-day moving average price is $88.72. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of -37.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Marvell Technology's dividend payout ratio is presently -23.53%.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value 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 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 purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares of the company's stock, valued at $6,010,797. The trade was a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 38,915 shares of company stock worth $2,679,800. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. William Blair upgraded Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Needham & Company LLC lowered their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Piper Sandler lowered their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Melius began coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a "buy" rating and a $188.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $111.27.

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.