Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 54.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,149,750 shares of the semiconductor company's stock after selling 2,581,201 shares during the period. Voya Investment Management LLC owned approximately 0.25% of Marvell Technology worth $237,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC lifted its position in Marvell Technology by 2.4% during the fourth quarter. Integrated Wealth Concepts LLC now owns 10,165 shares of the semiconductor company's stock valued at $1,123,000 after purchasing an additional 234 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Marvell Technology by 171.2% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 199,540 shares of the semiconductor company's stock worth $22,095,000 after buying an additional 125,963 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in Marvell Technology by 300.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 684 shares of the semiconductor company's stock valued at $76,000 after acquiring an additional 513 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in Marvell Technology by 21.9% in the fourth quarter. Hood River Capital Management LLC now owns 171,765 shares of the semiconductor company's stock valued at $18,971,000 after acquiring an additional 30,879 shares during the period. Finally, Totem Point Management LLC purchased a new position in Marvell Technology in the fourth quarter worth about $6,412,000. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 2.7 %

NASDAQ MRVL traded down $1.57 on Monday, reaching $57.35. 7,129,652 shares of the stock traded hands, compared to its average volume of 13,602,135. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 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 company has a fifty day moving average price of $68.53 and a 200-day moving average price of $90.83. The company has a market cap of $49.67 billion, a price-to-earnings ratio of -33.72, a PEG ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,390 shares of company stock worth $1,937,938. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. Barclays lowered 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. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Citigroup reduced their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Rosenblatt Securities reissued a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Needham & Company LLC reduced their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.56.

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.