Clearbridge Investments LLC Sells 874,814 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Clearbridge Investments LLC lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,539,482 shares of the semiconductor company’s stock after selling 874,814 shares during the quarter. Clearbridge Investments LLC owned 0.29% of Marvell Technology worth $280,486,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $26,000. ORG Partners LLC increased its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter valued at $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology in the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen reduced their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Buying and Selling at Marvell Technology

In related news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock valued at $4,026,768 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 4.3 %

NASDAQ:MRVL opened at $62.04 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company’s fifty day moving average price is $94.05 and its 200-day moving average price is $93.62. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $53.73 billion, a P/E ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is presently -23.53%.

About Marvell Technology

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.