Field & Main Bank Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Field & Main Bank lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 29,045 shares of the semiconductor company’s stock after selling 205 shares during the period. Marvell Technology accounts for approximately 1.1% of Field & Main Bank’s holdings, making the stock its 24th largest holding. Field & Main Bank’s holdings in Marvell Technology were worth $3,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MRVL. Forsta AP Fonden increased its stake in shares of Marvell Technology by 8.0% in the fourth quarter. Forsta AP Fonden now owns 195,300 shares of the semiconductor company’s stock worth $21,571,000 after buying an additional 14,500 shares during the last quarter. Smith Group Asset Management LLC acquired a new stake in Marvell Technology in the fourth quarter worth $28,557,000. Robeco Institutional Asset Management B.V. lifted its stake in Marvell Technology by 118.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 309,669 shares of the semiconductor company’s stock valued at $34,203,000 after buying an additional 167,675 shares during the last quarter. Wealth Effects LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at $387,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth about $387,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 0.0 %

Shares of MRVL opened at $103.86 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $110.63 and a two-hundred day moving average price of $86.85. The stock has a market cap of $89.87 billion, a price-to-earnings ratio of -61.13, a P/E/G ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This 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 worth $4,361,430 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on MRVL. Wells Fargo & Company boosted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Barclays boosted their price target on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities upped their target price 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 equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

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.