Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Trimmed by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,382,067 shares of the semiconductor company’s stock after selling 849,425 shares during the period. Janus Henderson Group PLC’s holdings in Marvell Technology were worth $893,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Briaud Financial Planning Inc purchased a new position in shares of Marvell Technology during the 3rd quarter valued at $43,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 4.5 %

NASDAQ MRVL opened at $96.86 on Tuesday. The company’s 50-day simple moving average is $83.01 and its 200 day simple moving average is $74.56. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $97.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Marvell Technology’s payout ratio is currently -21.62%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MRVL. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Barclays boosted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Benchmark boosted their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

Insider Activity at Marvell Technology

In other Marvell Technology 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 sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock valued at $20,899,260 over the last quarter. 0.33% of the stock is owned by company insiders.

Marvell Technology 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.