Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 98.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,906 shares of the semiconductor company’s stock after selling 1,737,021 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Marvell Technology were worth $3,303,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the 2nd quarter worth about $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the 2nd quarter valued at about $32,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MRVL shares. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. UBS Group boosted their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. TD Cowen raised their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.96.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $123.78 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $107.97 and its 200 day moving average price is $85.37. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The firm has a market cap of $107.11 billion, a P/E ratio of -72.81, a PEG ratio of 4.10 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling

In related news, 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 value of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated 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 approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,755 shares of company stock worth $3,615,030 in the last ninety days. 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.