Cullen Frost Bankers Inc. Decreases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Cullen Frost Bankers Inc. decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 288,532 shares of the semiconductor company’s stock after selling 13,279 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Marvell Technology were worth $31,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC lifted its stake in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC lifted its stake in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Marvell Technology during the third quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Marvell Technology by 2.1% during the third 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. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.0 %

Marvell Technology stock opened at $90.14 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $78.00 billion, a price-to-earnings ratio of -53.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock’s fifty day moving average is $110.52 and its two-hundred day moving average is $93.84.

Marvell Technology Dividend Announcement

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

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares in the company, 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 have sold 36,255 shares of company stock worth $4,330,980 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. B. Riley upped their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark restated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Finally, Susquehanna upped their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.