Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,889 shares of the semiconductor company’s stock after selling 872 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Marvell Technology were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MRVL. True Wealth Design LLC lifted its position in Marvell Technology by 1,481.8% during 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 in the last quarter. ORG Partners LLC lifted its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $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 fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL opened at $62.04 on Monday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The stock has a market cap of $53.73 billion, a PE ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The business’s 50 day moving average is $94.05 and its 200-day moving average is $93.75. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s payout ratio is -23.53%.

Insider Activity

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,685 shares of company stock valued at $4,026,768. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. Cantor Fitzgerald raised their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup decreased their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Evercore ISI upped their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Finally, Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.