Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Howard Bailey Securities LLC

Howard Bailey Securities LLC reduced its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,482 shares of the semiconductor company’s stock after selling 669 shares during the quarter. Howard Bailey Securities LLC’s holdings in Marvell Technology were worth $495,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hemington Wealth Management raised its holdings in shares of Marvell Technology by 122.0% during the 4th quarter. Hemington Wealth Management now owns 768 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 422 shares during the period. Marks Group Wealth Management Inc acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $288,000. Gladstone Institutional Advisory LLC raised its stake in shares of Marvell Technology by 1.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 18,844 shares of the semiconductor company’s stock valued at $2,081,000 after purchasing an additional 195 shares during the period. Schear Investment Advisers LLC lifted its position in shares of Marvell Technology by 5.6% during the fourth quarter. Schear Investment Advisers LLC now owns 28,027 shares of the semiconductor company’s stock worth $3,096,000 after purchasing an additional 1,495 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at $229,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $105.42 on Thursday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock’s fifty day moving average is $114.27 and its 200-day moving average is $90.05. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MRVL shares. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Needham & Company LLC boosted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.