Sumitomo Mitsui DS Asset Management Company Ltd Sells 2,159 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,937 shares of the semiconductor company’s stock after selling 2,159 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Marvell Technology were worth $13,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC raised its stake in Marvell Technology by 9.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 418 shares in the last quarter. Brookstone Capital Management bought a new position in Marvell Technology in the 3rd quarter valued at about $216,000. CWM LLC raised its position in shares of Marvell Technology by 17.6% in the 3rd quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after buying an additional 3,760 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Marvell Technology by 10.5% during the 3rd quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock worth $692,000 after acquiring an additional 894 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Marvell Technology by 38.9% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 814 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 228 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was 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 37,755 shares of company stock valued at $4,361,430 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

MRVL opened at $110.62 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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 market capitalization of $95.72 billion, a price-to-earnings ratio of -65.07, a P/E/G ratio of 3.71 and a beta of 1.40. The firm’s fifty day moving average price is $113.59 and its two-hundred day moving average price is $88.68.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Rosenblatt Securities raised their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. KeyCorp raised their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.