Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,050 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Cable Hill Partners LLC’s holdings in Marvell Technology were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its stake in shares of 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 purchasing an additional 326 shares in the last quarter. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at about $26,000. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology during the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $94.90 on Thursday. The stock’s 50-day moving average price is $112.46 and its two-hundred day moving average price is $93.00. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The stock has a market cap of $82.12 billion, a P/E ratio of -55.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Bank of America lifted their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.