Principal Securities Inc. Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Principal Securities Inc. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 57.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,684 shares of the semiconductor company’s stock after selling 11,685 shares during the quarter. Principal Securities Inc.’s holdings in Marvell Technology were worth $959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MRVL. Exchange Traded Concepts LLC lifted its position in shares of Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 336 shares in the last quarter. Creative Planning lifted its position in shares of Marvell Technology by 37.5% in the third quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock valued at $7,482,000 after acquiring an additional 28,286 shares in the last quarter. Swedbank AB lifted its position in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after acquiring an additional 23,680 shares in the last quarter. Blue Trust Inc. lifted its position in Marvell Technology by 19.6% during the third quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company’s stock worth $496,000 after buying an additional 1,164 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent analyst reports. Barclays raised their target price on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Craig Hallum lifted their target price on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $111.04 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $113.93 and its two-hundred day moving average is $91.57. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock has a market capitalization of $96.08 billion, a price-to-earnings ratio of -65.32, a PEG ratio of 1.58 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’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 sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. Company insiders own 0.33% of the company’s stock.

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.