WR Wealth Planners LLC Cuts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

WR Wealth Planners LLC lowered its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 35.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500 shares of the semiconductor company’s stock after selling 275 shares during the quarter. WR Wealth Planners LLC’s holdings in Marvell Technology were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MRVL. Cobblestone Capital Advisors LLC NY bought a new stake in Marvell Technology during the 4th quarter valued at about $302,000. SVB Wealth LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $460,000. Flputnam Investment Management Co. purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $288,000. Waterway Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $204,000. Finally, Private Trust Co. NA grew its position 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 buying an additional 97 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 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 transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. 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 three months. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 4.8 %

Shares of MRVL opened at $91.82 on Friday. The company’s 50-day simple moving average is $111.63 and its 200-day simple moving average is $93.39. The stock has a market capitalization of $79.45 billion, a PE ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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 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 paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.26%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. TD Cowen lifted their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. KeyCorp boosted their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, 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.