Whalen Wealth Management Inc. Sells 564 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Whalen Wealth Management Inc. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,262 shares of the semiconductor company’s stock after selling 564 shares during the period. Marvell Technology comprises approximately 0.9% of Whalen Wealth Management Inc.’s portfolio, making the stock its 22nd biggest holding. Whalen Wealth Management Inc.’s holdings in Marvell Technology were worth $1,244,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tsfg LLC lifted its holdings in Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after buying an additional 111 shares during the period. Citizens Financial Group Inc. RI lifted its stake in Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. boosted its holdings in Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased its position in Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the period. Finally, Sunflower Bank N.A. raised its holdings in Marvell Technology by 4.8% in the 4th quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 138 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 1.2 %

Shares of MRVL opened at $125.21 on Thursday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.45. 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 business has a 50-day simple moving average of $108.68 and a two-hundred day simple moving average of $85.65.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,755 shares of company stock valued at $3,615,030 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MRVL. KeyCorp increased their price target on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer raised their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Susquehanna upped their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Morgan Stanley raised their price objective on Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, Evercore ISI upped their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $125.38.

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.