Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,558 shares of the semiconductor company’s stock after selling 486 shares during the quarter. Amalgamated Bank’s holdings in Marvell Technology were worth $5,032,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its position 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 worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC increased its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $26,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 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 $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. 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 ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Melius began coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Benchmark reissued a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Down 7.6 %

Shares of MRVL opened at $87.65 on Friday. The firm has a market capitalization of $75.84 billion, a P/E ratio of -51.56, a PEG 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, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm’s 50-day moving average is $112.03 and its two-hundred day moving average is $92.96.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

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.