Marvell Technology, Inc. (NASDAQ:MRVL) Position Lowered by Mendel Money Management

Mendel Money Management lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,950 shares of the semiconductor company’s stock after selling 3,955 shares during the period. Marvell Technology accounts for approximately 2.4% of Mendel Money Management’s portfolio, making the stock its 7th largest position. Mendel Money Management’s holdings in Marvell Technology were worth $5,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MRVL. Situational Awareness LP purchased a new stake in Marvell Technology during the fourth quarter worth approximately $86,802,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Marvell Technology during the 4th quarter worth approximately $106,000. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Marvell Technology by 16.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,876 shares of the semiconductor company’s stock valued at $1,533,000 after buying an additional 1,945 shares in the last quarter. FineMark National Bank & Trust purchased a new position in shares of Marvell Technology in the 4th quarter valued at $11,829,000. Finally, GQG Partners LLC acquired a new position in Marvell Technology in the fourth quarter valued at $802,410,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 1.5 %

Shares of MRVL opened at $71.67 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. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a market cap of $62.07 billion, a PE ratio of -42.16, a P/E/G ratio of 1.61 and a beta of 1.42. The stock’s 50-day moving average is $97.34 and its two-hundred day moving average is $93.91.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Susquehanna boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,685 shares of company stock valued at $4,026,768. Corporate insiders own 0.33% of the company’s stock.

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.