Calamos Advisors LLC Cuts Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Calamos Advisors LLC lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 261,866 shares of the semiconductor company’s stock after selling 36,288 shares during the period. Calamos Advisors LLC’s holdings in Marvell Technology were worth $28,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC lifted its stake in 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 during the last quarter. ORG Partners LLC boosted 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 buying an additional 149 shares in the last quarter. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology in the fourth quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 0.6 %

Shares of NASDAQ:MRVL opened at $113.56 on Tuesday. The stock has a 50-day simple moving average of $112.15 and a 200-day simple moving average of $87.97. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued 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 dividend payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 over the last three months. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. TD Cowen lifted their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.