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

Sanctuary Advisors LLC cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,493 shares of the semiconductor company’s stock after selling 3,534 shares during the quarter. Sanctuary Advisors LLC’s holdings in Marvell Technology were worth $7,888,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its holdings in Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares in the last quarter. Creative Planning boosted its stake in shares of Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after acquiring an additional 28,286 shares in the last quarter. Swedbank AB grew its position in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after acquiring an additional 23,680 shares during the period. Blue Trust Inc. increased its stake in shares of Marvell Technology by 19.6% in the 3rd quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in Marvell Technology by 74.5% in the 3rd 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 period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 3.5 %

Shares of Marvell Technology stock opened at $111.04 on Thursday. The stock has a 50 day moving average of $113.93 and a 200 day moving average of $91.57. 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 firm has a market capitalization of $96.08 billion, a price-to-earnings ratio of -65.32, a PEG ratio of 1.58 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. 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 dividend payout ratio is presently -14.12%.

Analysts Set New Price Targets

A number of research firms have recently commented on MRVL. Evercore ISI boosted their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Bank of America boosted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased 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. Stifel Nicolaus boosted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 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 transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,255 shares of company stock worth $4,330,980. 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.