Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Buffington Mohr McNeal

Buffington Mohr McNeal decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 77.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,280 shares of the semiconductor company’s stock after selling 28,106 shares during the quarter. Buffington Mohr McNeal’s holdings in Marvell Technology were worth $915,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after acquiring an additional 68,893 shares during the last quarter. Geode Capital Management LLC raised its stake in Marvell Technology by 2.0% in 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 purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Marvell Technology by 4.3% in 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 purchasing an additional 359,005 shares in the last quarter. Van ECK Associates Corp boosted 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 worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Marvell Technology by 3.0% during the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after buying an additional 150,109 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MRVL shares. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday. B. Riley lifted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Bank of America upped their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities raised their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.88.

Marvell Technology Stock Down 19.3 %

Shares of Marvell Technology stock opened at $100.08 on Tuesday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company’s 50-day simple moving average is $110.34 and its 200-day simple moving average is $86.64. 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 announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

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.