Wolff Wiese Magana LLC Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Wolff Wiese Magana LLC decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,755 shares of the semiconductor company’s stock after selling 357 shares during the period. Marvell Technology makes up approximately 1.5% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 22nd biggest position. Wolff Wiese Magana LLC’s holdings in Marvell Technology were worth $2,292,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MRVL. Quest Partners LLC boosted its position in shares of Marvell Technology by 1,181.8% during the 2nd quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 1,040 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Marvell Technology by 21.2% in the 2nd quarter. LPL Financial LLC now owns 493,524 shares of the semiconductor company’s stock worth $34,497,000 after buying an additional 86,419 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Marvell Technology by 21.3% during the 2nd quarter. Federated Hermes Inc. now owns 49,412 shares of the semiconductor company’s stock valued at $3,454,000 after buying an additional 8,666 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Marvell Technology by 21.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,818,161 shares of the semiconductor company’s stock valued at $127,089,000 after acquiring an additional 319,433 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Marvell Technology by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company’s stock worth $268,711,000 after acquiring an additional 25,983 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction 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 represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 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 $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 represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock valued at $2,967,670 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Citigroup lifted their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Cantor Fitzgerald upped their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $117.94 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a fifty day moving average of $105.11 and a 200 day moving average of $83.63. The firm has a market capitalization of $102.05 billion, a price-to-earnings ratio of -69.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

About Marvell Technology

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.