Shell Asset Management Co. Sells 4,622 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Shell Asset Management Co. reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 24.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,467 shares of the semiconductor company’s stock after selling 4,622 shares during the period. Shell Asset Management Co.’s holdings in Marvell Technology were worth $1,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth about $27,000. Financial Life Planners bought a new stake in shares of Marvell Technology in the 4th quarter worth about $33,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology in the 4th quarter worth about $35,000. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent analyst reports. Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Morgan Stanley dropped their price target 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. Cantor Fitzgerald cut shares of Marvell Technology from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $60.00 in a research note on Wednesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.27.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $63.76 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 company has a market capitalization of $55.08 billion, a PE ratio of -37.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The company’s fifty day moving average price is $60.36 and its 200 day moving average price is $88.72.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on 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 directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,915 shares of company stock valued at $2,679,800 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

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.