Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Decreased by Calamos Advisors LLC

Calamos Advisors LLC lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 261,866 shares of the semiconductor company’s stock after selling 36,288 shares during the quarter. Calamos Advisors LLC’s holdings in Marvell Technology were worth $28,923,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Quarry LP bought a new position in shares of Marvell Technology during the 2nd quarter worth about $32,000. Kieckhefer Group LLC bought a new stake in Marvell Technology in the fourth quarter valued at about $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the fourth quarter worth about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on MRVL shares. Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their target price on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Loop Capital upped their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Susquehanna raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

Shares of MRVL opened at $113.56 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm’s 50-day simple moving average is $112.15 and its 200 day simple moving average is $87.97.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

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.