SWS Partners Sells 4,490 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

SWS Partners lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,592 shares of the semiconductor company’s stock after selling 4,490 shares during the quarter. Marvell Technology comprises 1.8% of SWS Partners’ portfolio, making the stock its 11th largest holding. SWS Partners’ holdings in Marvell Technology were worth $5,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted 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 valued at $25,000 after buying an additional 326 shares during the period. ORG Partners LLC raised 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 acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $26,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter worth approximately $33,000. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Oppenheimer increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $85.83 on Tuesday. The firm has a market capitalization of $74.27 billion, a price-to-earnings ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. The stock has a fifty day moving average of $111.63 and a 200 day moving average of $93.59. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.