Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Decreased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,832 shares of the semiconductor company’s stock after selling 457 shares during the period. Orion Portfolio Solutions LLC’s holdings in Marvell Technology were worth $2,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intrepid Financial Planning Group LLC boosted its position in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc lifted its stake in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC boosted its holdings in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after acquiring an additional 93 shares during the period. Valley National Advisers Inc. grew its position in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 97 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp decreased their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Piper Sandler lowered their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Bank of America reduced their price target on Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 0.8 %

Shares of NASDAQ MRVL opened at $61.57 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The business has a 50-day moving average price of $92.78 and a two-hundred day moving average price of $93.66. The firm has a market capitalization of $53.32 billion, a PE ratio of -36.22, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by company insiders.

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.