Dimensional Fund Advisors LP Sells 919,461 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Dimensional Fund Advisors LP reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 26.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,605,621 shares of the semiconductor company's stock after selling 919,461 shares during the period. Dimensional Fund Advisors LP owned approximately 0.30% of Marvell Technology worth $287,824,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Zweig DiMenna Associates LLC boosted its stake in 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 acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $637,000. RFG Advisory LLC grew its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares during the period. Franchise Capital Ltd acquired a new stake in Marvell Technology during the 4th quarter worth $1,476,000. Finally, United Asset Strategies Inc. raised its stake in Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after buying an additional 14,547 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value 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. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,930 shares of company stock worth $1,252,638 over the last quarter. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent analyst reports. Melius started coverage on Marvell Technology in a report on Monday, January 27th. They issued a "buy" rating and a $188.00 price target for the company. Barclays lowered their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Rosenblatt Securities reissued a "buy" rating and set a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Summit Insights cut 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.56.

Marvell Technology Stock Performance

Shares of MRVL traded up $3.14 during trading hours on Wednesday, hitting $53.76. The company had a trading volume of 15,578,260 shares, compared to its average volume of 13,551,528. The firm has a market cap of $46.56 billion, a price-to-earnings ratio of -31.63, a PEG ratio of 1.61 and a beta of 1.78. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $71.54 and a 200-day moving average of $91.05. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

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 given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.45%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

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.