Ieq Capital LLC Cuts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Ieq Capital LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,565 shares of the semiconductor company’s stock after selling 2,244 shares during the quarter. Ieq Capital LLC’s holdings in Marvell Technology were worth $6,469,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Private Wealth Partners LLC boosted its stake in shares of Marvell Technology by 0.4% in the fourth quarter. Private Wealth Partners LLC now owns 36,770 shares of the semiconductor company’s stock valued at $4,061,000 after purchasing an additional 162 shares during the period. Private Advisor Group LLC lifted its holdings in Marvell Technology by 7.9% during the 4th quarter. Private Advisor Group LLC now owns 49,719 shares of the semiconductor company’s stock worth $5,491,000 after buying an additional 3,646 shares in the last quarter. Laidlaw Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter valued at approximately $2,117,000. Global Retirement Partners LLC grew its stake in shares of Marvell Technology by 13.3% in the fourth quarter. Global Retirement Partners LLC now owns 6,496 shares of the semiconductor company’s stock worth $718,000 after acquiring an additional 764 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $5,999,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $108.66 on Friday. The business’s 50-day moving average price is $113.93 and its 200 day moving average price is $91.69. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market cap of $94.03 billion, a P/E ratio of -63.92, a P/E/G ratio of 1.59 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MRVL. UBS Group boosted their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Needham & Company LLC raised their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities boosted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average 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.