Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,362,776 shares of the semiconductor company’s stock after selling 25,372 shares during the quarter. California State Teachers Retirement System owned 0.16% of Marvell Technology worth $150,519,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MRVL. Intrepid Financial Planning Group LLC increased its holdings in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares during the last quarter. PDS Planning Inc lifted its stake in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after acquiring an additional 96 shares during the period. Finally, Private Trust Co. NA grew its position in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Casper sold 12,460 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,390 shares of company stock worth $1,937,938. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on MRVL shares. KeyCorp dropped their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Piper Sandler lowered their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, Craig Hallum increased their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three equities research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.56.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $58.92 on Monday. The stock has a market capitalization of $51.03 billion, a PE ratio of -34.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The stock has a 50 day moving average price of $68.53 and a 200 day moving average price of $90.83. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

About Marvell Technology

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.