Argent Capital Management LLC Cuts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Argent Capital Management LLC cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,195 shares of the semiconductor company’s stock after selling 1,410 shares during the quarter. Argent Capital Management LLC’s holdings in Marvell Technology were worth $2,672,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC grew its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter worth $33,000. True Wealth Design LLC increased its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. Quarry LP bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MRVL. Barclays boosted their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Craig Hallum increased their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Cantor Fitzgerald increased their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Read Our Latest Analysis on MRVL

Marvell Technology Stock Up 0.7 %

Shares of Marvell Technology stock opened at $116.00 on Thursday. The company has a market capitalization of $100.37 billion, a PE ratio of -68.23, a P/E/G ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The business has a 50-day moving average of $105.61 and a 200-day moving average of $83.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,500 shares of company stock valued at $2,967,670 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVLFree Report).

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.