Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 611,622 shares of the semiconductor company’s stock after selling 68,966 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Marvell Technology were worth $67,625,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Intrepid Financial Planning Group LLC grew its position in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 92 shares in the last quarter. Lodestone Wealth Management LLC increased its stake in shares of Marvell Technology by 2.0% during 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. increased its stake in shares of 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 during the period. Finally, Private Trust Co. NA raised its holdings in Marvell Technology by 2.7% during 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 in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $64.50 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $55.72 billion, a price-to-earnings ratio of -37.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The business has a fifty day moving average of $60.68 and a 200-day moving average of $89.28.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a $0.06 dividend. 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 -23.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MRVL shares. Citigroup lowered their price objective on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. Needham & Company LLC cut their price objective 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. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.30.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders have sold 28,890 shares of company stock valued at $2,027,938 in the last ninety days. Insiders own 0.19% of the company’s stock.

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.