Laird Norton Wetherby Wealth Management LLC Lowers Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Laird Norton Wetherby Wealth Management LLC lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,543 shares of the semiconductor company’s stock after selling 1,773 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Marvell Technology were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Zweig DiMenna Associates LLC increased its holdings in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $637,000. RFG Advisory LLC raised its position in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares in the last quarter. United Asset Strategies Inc. boosted its position in Marvell Technology by 7.1% during the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock valued at $24,287,000 after purchasing an additional 14,547 shares in the last quarter. Finally, Prudent Investors Network Inc. purchased a new position in Marvell Technology in the fourth quarter valued at about $248,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $65.90 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a 50 day moving average price of $60.44 and a 200-day moving average price of $88.95. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The firm has a market cap of $56.93 billion, a price-to-earnings ratio of -38.76, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The company also recently disclosed 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 0.36%. Marvell Technology’s payout ratio is -23.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MRVL. TD Cowen lowered their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Barclays dropped their target price on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.27.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction dated 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 purchase, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,286 shares of Marvell Technology stock in a transaction on Monday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00. Following the completion of the sale, the chief accounting officer now directly owns 32,094 shares in the company, valued at $2,086,110. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,176 shares of company stock valued at $2,111,528 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

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.