Vestmark Advisory Solutions Inc. Sells 4,209 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Vestmark Advisory Solutions Inc. lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 23.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,092 shares of the semiconductor company’s stock after selling 4,209 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Marvell Technology were worth $1,556,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC grew its stake in Marvell Technology by 6.3% in the 4th 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 last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $637,000. RFG Advisory LLC increased its stake in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology during the 3rd quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group upped their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Stock Performance

Marvell Technology stock opened at $70.84 on Friday. The company has a market cap of $61.30 billion, a PE ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company’s 50-day moving average is $109.13 and its two-hundred day moving average is $93.67.

Marvell Technology Dividend Announcement

The firm 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 was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the 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 owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by insiders.

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.