Louisiana State Employees Retirement System Sells 2,900 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Louisiana State Employees Retirement System lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,200 shares of the semiconductor company’s stock after selling 2,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Marvell Technology were worth $6,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Valley National Advisers Inc. boosted its holdings in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares during the period. Waldron Private Wealth LLC boosted its stake in Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 103 shares during the period. Tsfg LLC grew its holdings in Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 111 shares in the last quarter. GHP Investment Advisors Inc. increased its position in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after buying an additional 116 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MRVL. Wells Fargo & Company raised their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Morgan Stanley dropped their price target on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Benchmark reissued a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Rosenblatt Securities lifted their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Down 3.3 %

NASDAQ:MRVL opened at $109.12 on Wednesday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $114.53 and its 200 day simple moving average is $89.94.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors 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 dividend yield of 0.22%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Activity at Marvell Technology

In related news, 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 transaction of $534,840.00. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The shares were 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. Insiders sold 37,755 shares of company stock worth $4,361,430 over the last three months. Company insiders own 0.33% of the company’s stock.

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.