Axa S.A. Decreases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Axa S.A. cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 647,022 shares of the semiconductor company’s stock after selling 38,611 shares during the period. Axa S.A.’s holdings in Marvell Technology were worth $71,464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intrepid Financial Planning Group LLC boosted its holdings in shares of Marvell Technology by 0.3% in the fourth 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 in the last quarter. PDS Planning Inc raised its stake in shares of Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after buying an additional 92 shares in the last quarter. Lodestone Wealth Management LLC lifted its holdings in shares of Marvell Technology by 2.0% in the fourth 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 period. Valley National Advisers Inc. boosted its stake 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 buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA raised its position in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MRVL. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Morgan Stanley cut their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Bank of America decreased their price target on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $114.56.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the sale, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,890 shares of company stock worth $2,027,938. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $62.33 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market cap of $53.98 billion, a PE ratio of -36.66, a PEG ratio of 1.61 and a beta of 1.83. The firm’s 50 day moving average price is $64.22 and its 200 day moving average price is $90.05. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, April 11th. Marvell Technology’s payout ratio is presently -23.53%.

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.