Mirae Asset Global Investments Co. Ltd. Sells 205,275 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,025,164 shares of the semiconductor company’s stock after selling 205,275 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Marvell Technology were worth $115,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Zweig DiMenna Associates LLC boosted its holdings in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC boosted its stake in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares during the period. Braun Stacey Associates Inc. acquired a new stake in Marvell Technology during the third quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. KeyCorp increased their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup raised their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. B. Riley increased their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI boosted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated 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 transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’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 $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $109.69 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The stock has a fifty day simple moving average of $112.48 and a 200 day simple moving average of $88.27.

Marvell Technology Announces Dividend

The business 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. 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 currently -14.12%.

Marvell Technology 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.