Equitable Trust Co. Lowers Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Equitable Trust Co. lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,343 shares of the semiconductor company’s stock after selling 692 shares during the quarter. Equitable Trust Co.’s holdings in Marvell Technology were worth $1,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MRVL. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% during the 3rd 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 in the last quarter. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Finally, Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.0 %

Shares of NASDAQ MRVL opened at $112.80 on Tuesday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The stock has a market cap of $97.61 billion, a P/E ratio of -66.35, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The firm has a 50-day moving average of $114.26 and a 200 day moving average of $89.63. 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 Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on MRVL shares. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus increased their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 in the last three months. Company insiders own 0.33% of the company’s stock.

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.