Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 67,330 shares of the semiconductor company’s stock after selling 705 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Marvell Technology were worth $7,436,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MRVL. Swedbank AB lifted its holdings in Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. International Assets Investment Management LLC raised its position in Marvell Technology by 7,142.2% in the third quarter. International Assets Investment Management LLC now owns 239,934 shares of the semiconductor company’s stock worth $17,304,000 after acquiring an additional 236,621 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Marvell Technology by 134.1% in the third quarter. Nisa Investment Advisors LLC now owns 133,995 shares of the semiconductor company’s stock worth $9,664,000 after acquiring an additional 76,745 shares in the last quarter. MONECO Advisors LLC bought a new stake in Marvell Technology in the third quarter worth about $285,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Marvell Technology during the 3rd quarter worth about $273,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $94.90 on Thursday. The business has a fifty day simple moving average of $112.46 and a 200 day simple moving average of $93.00. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $82.12 billion, a price-to-earnings ratio of -55.82, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. Marvell Technology’s payout ratio is -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRVL. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Benchmark reissued a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Barclays reissued an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Loop Capital boosted their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, KeyCorp boosted their price target on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.