Kingswood Wealth Advisors LLC Sells 3,803 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Kingswood Wealth Advisors LLC trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 33.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,457 shares of the semiconductor company’s stock after selling 3,803 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Marvell Technology were worth $824,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Zweig DiMenna Associates LLC raised its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new position in Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC raised its position in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology during the 3rd quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its position in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Marvell Technology stock opened at $103.88 on Wednesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company’s 50 day moving average price is $110.63 and its two-hundred day moving average price is $86.85. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $89.89 billion, a P/E ratio of -61.11, a P/E/G ratio of 4.12 and a beta of 1.41.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent analyst reports. Cantor Fitzgerald increased their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. UBS Group increased their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Stifel Nicolaus raised their target price on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Craig Hallum raised their target price on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

About Marvell Technology

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.