Sterling Capital Management LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,965 shares of the semiconductor company's stock after selling 115,726 shares during the quarter. Sterling Capital Management LLC's holdings in Marvell Technology were worth $43,293,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Invesco Ltd. lifted its holdings in Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after buying an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Norges Bank bought a new stake in shares of Marvell Technology during the 4th quarter worth $1,138,354,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Marvell Technology by 28.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock worth $838,617,000 after acquiring an additional 1,691,242 shares during the last quarter. Institutional investors own 83.51% of the company's stock.
Marvell Technology Stock Performance
NASDAQ:MRVL traded up $0.52 during trading hours on Friday, hitting $53.39. 17,706,981 shares of the company traded hands, compared to its average volume of 13,431,231. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The firm has a 50-day moving average of $79.86 and a 200 day moving average of $92.05. The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of -31.41, a P/E/G ratio of 1.61 and a beta of 1.78.
Marvell Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.
Insider Buying and Selling
In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,185 shares of company stock valued at $3,131,018 over the last three months. 0.33% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
MRVL has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Rosenblatt Securities restated a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. TD Cowen decreased their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Benchmark reissued a "buy" rating and set a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on Marvell Technology in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.48.
Check Out Our Latest Analysis on Marvell Technology
About Marvell Technology
(
Free Report)
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.
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