IHT Wealth Management LLC Sells 2,807 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

IHT Wealth Management LLC trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,176 shares of the semiconductor company’s stock after selling 2,807 shares during the quarter. IHT Wealth Management LLC’s holdings in Marvell Technology were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter worth $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at about $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of MRVL stock opened at $53.76 on Thursday. The company has a market capitalization of $46.56 billion, a P/E ratio of -31.63, a P/E/G ratio of 1.61 and a beta of 1.78. The company’s 50-day simple moving average is $70.48 and its two-hundred day simple moving average is $90.80. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.45%. Marvell Technology’s payout ratio is currently -23.53%.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research reports. Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Morgan Stanley dropped their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $114.56.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 14,930 shares of company stock valued at $1,252,638 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.