Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 257,488 shares of the semiconductor company’s stock after selling 13,407 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Marvell Technology were worth $28,440,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth $33,000. Financial Life Planners acquired a new position in shares of Marvell Technology in the 4th quarter worth $33,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 112 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 in the last three months. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Up 2.0 %

Shares of MRVL opened at $94.90 on Thursday. The company has a market capitalization of $82.12 billion, a P/E ratio of -55.82, a PEG ratio of 1.61 and a beta of 1.40. 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, Inc. has a one year low of $53.19 and a one year high of $127.48. The business’s 50 day simple moving average is $112.46 and its 200-day simple moving average is $93.00.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MRVL shares. Needham & Company LLC lifted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Rosenblatt Securities lifted their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.60.

About Marvell Technology

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.