Gagnon Securities LLC Sells 1,685 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Gagnon Securities LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,045 shares of the semiconductor company’s stock after selling 1,685 shares during the period. Gagnon Securities LLC’s holdings in Marvell Technology were worth $1,551,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC lifted its stake in Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares in the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after acquiring an additional 359,005 shares in the last quarter. Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by insiders.

Marvell Technology Trading Up 2.3 %

NASDAQ:MRVL opened at $112.86 on Friday. The business has a 50 day moving average of $111.72 and a 200 day moving average of $87.43. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders 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 yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRVL. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Melius initiated coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Rosenblatt Securities lifted their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Susquehanna lifted their target price 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 investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.