Carmel Capital Partners LLC Sells 178 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Carmel Capital Partners LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,833 shares of the semiconductor company’s stock after selling 178 shares during the period. Carmel Capital Partners LLC’s holdings in Marvell Technology were worth $1,417,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $366,896,000. Dana Investment Advisors Inc. boosted its holdings in shares of Marvell Technology by 208.6% during the 4th quarter. Dana Investment Advisors Inc. now owns 9,877 shares of the semiconductor company’s stock worth $1,091,000 after buying an additional 6,676 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Marvell Technology by 0.5% during the 4th quarter. Arizona State Retirement System now owns 249,419 shares of the semiconductor company’s stock worth $27,548,000 after buying an additional 1,298 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $1,847,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $361,000. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Evercore ISI increased their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. 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. Finally, B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Up 2.0 %

Shares of MRVL opened at $90.14 on Thursday. The business has a 50-day moving average of $110.52 and a 200 day moving average of $93.84. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a market cap of $78.00 billion, a P/E ratio of -53.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 in the last quarter. 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.