Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Westerly Capital Management LLC

Westerly Capital Management LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 52.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the semiconductor company's stock after selling 55,000 shares during the quarter. Marvell Technology comprises approximately 2.5% of Westerly Capital Management LLC's portfolio, making the stock its 14th biggest holding. Westerly Capital Management LLC's holdings in Marvell Technology were worth $5,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Intrepid Financial Planning Group LLC grew its holdings in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after purchasing an additional 90 shares during the last quarter. PDS Planning Inc lifted its stake in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC lifted its stake in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after acquiring an additional 93 shares during the period. Valley National Advisers Inc. boosted its stake in Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after purchasing an additional 97 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 4.4 %

MRVL stock traded up $2.58 during midday trading on Thursday, reaching $60.95. 17,617,499 shares of the company traded hands, compared to its average volume of 13,682,865. 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 business has a 50 day moving average of $64.84 and a 200-day moving average of $90.17. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The firm has a market capitalization of $52.79 billion, a price-to-earnings ratio of -35.85, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology's payout ratio is -23.53%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent research reports. Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Citigroup decreased their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $114.56.

Insider Transactions at Marvell Technology

In other news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares of the company's stock, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were 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. Over the last three months, 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 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.