MeadowBrook Investment Advisors LLC Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

MeadowBrook Investment Advisors LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,335 shares of the semiconductor company’s stock after selling 605 shares during the quarter. Marvell Technology comprises about 1.4% of MeadowBrook Investment Advisors LLC’s holdings, making the stock its 17th largest position. MeadowBrook Investment Advisors LLC’s holdings in Marvell Technology were worth $1,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter worth about $33,000. Financial Life Planners bought a new stake in Marvell Technology during the fourth quarter worth about $33,000. Finally, Whittier Trust Co. lifted its stake in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Craig Hallum boosted their target price on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. KeyCorp boosted their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Susquehanna boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their price target on Marvell Technology from $110.00 to $115.00 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Down 3.3 %

MRVL stock opened at $109.12 on Wednesday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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 stock’s fifty day moving average price is $114.53 and its 200-day moving average price is $89.94.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders 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 dividend yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction 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. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,361,430 in the last ninety days. 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.