Mendel Money Management Cuts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Mendel Money Management reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 47,950 shares of the semiconductor company’s stock after selling 3,955 shares during the period. Marvell Technology accounts for about 2.4% of Mendel Money Management’s portfolio, making the stock its 7th biggest position. Mendel Money Management’s holdings in Marvell Technology were worth $5,296,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Great Valley Advisor Group Inc. lifted its stake in shares of Marvell Technology by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 6,480 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 156 shares during the period. Cerity Partners LLC lifted its position in shares of Marvell Technology by 84.3% in the 3rd quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock valued at $4,401,000 after acquiring an additional 27,902 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Marvell Technology by 6.4% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,178 shares of the semiconductor company’s stock valued at $446,000 after purchasing an additional 373 shares during the period. Daiwa Securities Group Inc. increased its stake in Marvell Technology by 15.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 133,517 shares of the semiconductor company’s stock valued at $9,629,000 after buying an additional 17,415 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Marvell Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,203,310 shares of the semiconductor company’s stock worth $158,903,000 after acquiring an additional 56,606 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MRVL. Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Stifel Nicolaus lowered their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 1.5 %

MRVL opened at $71.67 on Wednesday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market cap of $62.07 billion, a PE ratio of -42.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm’s fifty day moving average is $97.34 and its two-hundred day moving average is $93.91.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -23.53%.

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.