RMR Wealth Builders Sells 493 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

RMR Wealth Builders lowered its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,840 shares of the semiconductor company’s stock after selling 493 shares during the period. RMR Wealth Builders’ holdings in Marvell Technology were worth $755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC raised its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the 2nd quarter worth $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. Finally, Whittier Trust Co. raised its position in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew J. Murphy purchased 13,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,000 shares of company stock worth $15,163,420. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Benchmark reissued a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Rosenblatt Securities upped their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Susquehanna lifted their price objective 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 equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.28.

Marvell Technology Stock Down 3.3 %

NASDAQ MRVL traded down $3.85 during trading hours on Friday, hitting $114.32. 10,765,872 shares of the company traded hands, compared to its average volume of 10,988,122. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business’s 50-day moving average is $103.34 and its 200-day moving average is $82.45. The stock has a market capitalization of $98.92 billion, a price-to-earnings ratio of -67.25, a P/E/G ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -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.