Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Reduced by Bessemer Group Inc.

Bessemer Group Inc. lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,545,959 shares of the semiconductor company's stock after selling 157,491 shares during the period. Bessemer Group Inc. owned approximately 0.41% of Marvell Technology worth $391,651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC grew its holdings in shares of 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 purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new position in Marvell Technology during the fourth quarter valued at approximately $637,000. RFG Advisory LLC grew its stake in Marvell Technology by 6.2% during the fourth 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. Franchise Capital Ltd acquired a new stake in shares of Marvell Technology in the fourth quarter worth $1,476,000. Finally, United Asset Strategies Inc. raised its stake in shares of Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after acquiring an additional 14,547 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Activity

In related news, EVP Mark Casper sold 7,755 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,185 shares of company stock valued at $3,131,018. Company insiders own 0.33% of the company's stock.

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Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Piper Sandler decreased their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. TD Cowen reduced their price target on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Finally, Summit Insights downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $119.48.

Marvell Technology Stock Performance

MRVL traded up $0.52 during trading hours on Friday, hitting $53.39. 17,706,981 shares of the stock were exchanged, compared to its average volume of 13,431,231. The stock has a market cap of $46.24 billion, a price-to-earnings ratio of -31.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The stock has a 50-day simple moving average of $79.86 and a 200-day simple moving average of $92.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.45%. Marvell Technology's payout ratio is currently -23.53%.

Marvell Technology 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.