Global Retirement Partners LLC Sells 1,058 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Global Retirement Partners LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,159 shares of the semiconductor company’s stock after selling 1,058 shares during the period. Global Retirement Partners LLC’s holdings in Marvell Technology were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Marvell Technology by 0.3% in the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock valued at $7,005,447,000 after acquiring an additional 421,622 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Marvell Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock worth $3,813,546,000 after buying an additional 477,731 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Marvell Technology by 118,898.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock worth $2,313,242,000 after buying an additional 62,400,056 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Marvell Technology by 6.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 25,272,190 shares of the semiconductor company’s stock worth $936,082,000 after buying an additional 1,603,857 shares during the last quarter. Finally, State Street Corp boosted its holdings in Marvell Technology by 3.8% during the first quarter. State Street Corp now owns 19,449,228 shares of the semiconductor company’s stock worth $842,151,000 after buying an additional 715,036 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley raised their target price on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. TD Cowen raised their target price on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Oppenheimer restated an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Cantor Fitzgerald initiated coverage on Marvell Technology in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Citigroup reaffirmed a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

Get Our Latest Stock Analysis on Marvell Technology

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at approximately $7,291,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the transaction, the executive vice president now directly owns 124,117 shares in the company, valued at approximately $8,099,875.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the transaction, the chief financial officer now owns 101,986 shares of the company’s stock, valued at $7,291,999. The disclosure for this sale can be found here. Insiders sold a total of 139,000 shares of company stock worth $9,054,790 over the last ninety days. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Up 0.5 %

MRVL stock opened at $73.59 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $69.91 and a two-hundred day moving average price of $60.82. The company has a market cap of $63.73 billion, a price-to-earnings ratio of -68.14, a P/E/G ratio of 5.20 and a beta of 1.50. Marvell Technology, Inc. has a twelve month low of $36.90 and a twelve month high of $85.76.

Marvell Technology (NASDAQ:MRVLGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio is -22.22%.

Marvell Technology announced that its board has initiated a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Marvell Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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