Wealthcare Advisory Partners LLC Lowers Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Wealthcare Advisory Partners LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,644 shares of the semiconductor company’s stock after selling 488 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Marvell Technology were worth $623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Davidson Kempner Capital Management LP boosted its position in Marvell Technology by 26.5% in the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology in the 3rd quarter worth about $16,435,000. Charles Schwab Investment Management Inc. grew its position in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the last quarter. Finally, Franchise Capital Ltd bought a new stake in Marvell Technology in the fourth quarter worth about $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities raised their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. TD Cowen raised their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Susquehanna upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.96.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on 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 have sold a total of 31,755 shares of company stock valued at $3,615,030 over the last 90 days. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Up 6.1 %

Shares of Marvell Technology stock opened at $124.76 on Tuesday. 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 1 year low of $53.19 and a 1 year high of $126.15. The firm has a market cap of $107.95 billion, a PE ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. The company has a 50 day simple moving average of $107.35 and a two-hundred day simple moving average of $85.01.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.