McGuire Investment Group LLC Trims Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

McGuire Investment Group LLC cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,125 shares of the semiconductor company’s stock after selling 125 shares during the quarter. McGuire Investment Group LLC’s holdings in Marvell Technology were worth $456,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MRVL. Temasek Holdings Private Ltd grew its position in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Marvell Technology in the third quarter valued at $120,116,000. Van ECK Associates Corp grew its position in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Perpetual Ltd grew its position in Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 1.6 %

Shares of NASDAQ:MRVL opened at $124.02 on Friday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The stock has a 50 day moving average price of $110.11 and a 200-day moving average price of $86.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Ratings Changes

MRVL has been the subject of several recent analyst reports. Craig Hallum boosted their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Evercore ISI boosted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC boosted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.38.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

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.