Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Lowered by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,699 shares of the semiconductor company’s stock after selling 1,341 shares during the quarter. Marvell Technology accounts for approximately 2.2% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 12th largest position. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $4,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. Temasek Holdings Private Ltd boosted its holdings in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new position in Marvell Technology during the 3rd quarter worth approximately $120,116,000. Van ECK Associates Corp raised its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Perpetual Ltd boosted its position in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Up 0.6 %

Shares of MRVL stock opened at $113.56 on Tuesday. 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 12-month low of $53.19 and a 12-month high of $127.48. The firm has a 50-day moving average price of $112.15 and a 200 day moving average price of $87.97.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % 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, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRVL. Melius started coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus 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.