Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 67,330 shares of the semiconductor company’s stock after selling 705 shares during the period. Gulf International Bank UK Ltd’s holdings in Marvell Technology were worth $7,436,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MRVL. True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in the 4th 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 purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $26,000. Kieckhefer Group LLC purchased a new position in Marvell Technology during the 4th quarter valued at about $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This trade represents a 6.39 % 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 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Melius assumed coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, TD Cowen raised their target price 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. Three equities 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 stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Up 2.0 %

Shares of NASDAQ:MRVL opened at $94.90 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $112.46 and a 200 day simple moving average of $93.00. The firm has a market cap of $82.12 billion, a PE ratio of -55.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Dividend Announcement

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

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.