Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.8% during the fourth quarter, according to its most recent 13F 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Intrepid Financial Planning Group LLC increased its position in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc boosted its stake in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC grew its position in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. raised its stake in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 30,185 shares of company stock worth $3,131,018. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Up 3.2 %

MRVL opened at $51.00 on Tuesday. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The business has a 50 day moving average of $86.44 and a 200-day moving average of $93.06. The stock has a market capitalization of $44.17 billion, a price-to-earnings ratio of -30.00, a P/E/G ratio of 1.61 and a beta of 1.78. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.47%. Marvell Technology’s dividend payout ratio is -23.53%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MRVL. KeyCorp lowered their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Thursday, March 6th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Morgan Stanley lowered their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

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.