Marvell Technology, Inc. (NASDAQ:MRVL) is M.D. Sass LLC's 4th Largest Position

M.D. Sass LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 43.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 599,096 shares of the semiconductor company's stock after selling 460,485 shares during the period. Marvell Technology comprises 5.0% of M.D. Sass LLC's portfolio, making the stock its 4th largest holding. M.D. Sass LLC owned 0.07% of Marvell Technology worth $66,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth approximately $802,410,000. Raymond James Financial Inc. purchased a new stake in Marvell Technology during the fourth quarter worth $366,896,000. Temasek Holdings Private Ltd grew its holdings in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock valued at $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new stake in Marvell Technology in the third quarter valued at $120,116,000. Finally, Prudential Financial Inc. increased its position in shares of Marvell Technology by 1,006.0% in the fourth quarter. Prudential Financial Inc. now owns 806,027 shares of the semiconductor company's stock valued at $89,026,000 after buying an additional 733,147 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company's stock, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, 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 90 days, insiders have sold 37,685 shares of company stock valued at $4,026,768. Company insiders own 0.33% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Marvell Technology from $136.00 to $122.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. TD Cowen lowered their price target on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Piper Sandler cut their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. William Blair raised Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Raymond James set a $110.00 price target on Marvell Technology in a research report 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.44.

Marvell Technology Trading Down 4.3 %

MRVL traded down $2.82 on Friday, reaching $62.04. 18,769,219 shares of the company's stock were exchanged, compared to its average volume of 12,913,647. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company's 50 day moving average is $94.05 and its 200-day moving average is $93.47. 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 company has a market cap of $53.73 billion, a price-to-earnings ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The firm also recently disclosed 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. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is currently -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.