Russell Investments Group Ltd. Has $44.22 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Russell Investments Group Ltd. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 399,566 shares of the semiconductor company's stock after selling 28,997 shares during the quarter. Russell Investments Group Ltd.'s holdings in Marvell Technology were worth $44,218,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Norges Bank acquired a new position in Marvell Technology in the fourth quarter valued at approximately $1,138,354,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock valued at $838,617,000 after purchasing an additional 1,691,242 shares during the last quarter. Finally, GQG Partners LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $802,410,000. 83.51% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,185 shares of company stock worth $3,131,018 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MRVL. Craig Hallum boosted their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. KeyCorp reduced their price target on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.44.

Marvell Technology Stock Down 0.4 %

NASDAQ:MRVL traded down $0.23 on Friday, hitting $52.58. 6,817,088 shares of the company's stock traded hands, compared to its average volume of 13,438,715. The company has a market cap of $45.54 billion, a PE ratio of -31.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. 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 firm has a 50-day moving average price of $80.99 and a 200-day moving average price of $92.17.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.46%. Marvell Technology's dividend payout ratio is presently -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.