Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Hartline Investment Corp

Hartline Investment Corp lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368,106 shares of the semiconductor company’s stock after selling 17,306 shares during the quarter. Marvell Technology comprises 4.7% of Hartline Investment Corp’s portfolio, making the stock its 5th largest position. Hartline Investment Corp’s holdings in Marvell Technology were worth $40,657,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Kieckhefer Group LLC bought a new position in Marvell Technology in the fourth quarter worth about $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. GHP Investment Advisors Inc. raised its position in shares of 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 purchasing an additional 112 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% in the 3rd 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. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MRVL shares. TD Cowen upped their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Citigroup lifted their price target on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America raised their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 in the last three months. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 2.0 %

Shares of NASDAQ:MRVL opened at $112.80 on Tuesday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a fifty day moving average of $114.26 and a two-hundred day moving average of $89.63.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders 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 yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Marvell Technology Company Profile

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.