Nissay Asset Management Corp Japan ADV Sells 4,796 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Nissay Asset Management Corp Japan ADV lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 518,556 shares of the semiconductor company’s stock after selling 4,796 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Marvell Technology were worth $58,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Zweig DiMenna Associates LLC increased its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new position in Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC increased its position in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares during the period. United Asset Strategies Inc. increased its position in Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock worth $24,287,000 after buying an additional 14,547 shares during the period. Finally, Prudent Investors Network Inc. bought a new position in Marvell Technology during the 4th quarter worth $248,000. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brad W. Buss bought 3,000 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 30,176 shares of company stock valued at $2,111,528. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRVL. Raymond James set a $110.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Benchmark reduced their target price on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.27.

Marvell Technology Price Performance

Marvell Technology stock opened at $65.48 on Wednesday. The stock’s 50 day moving average is $60.54 and its 200 day moving average is $89.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $56.56 billion, a P/E ratio of -38.52, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) 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.