Clearbridge Investments LLC Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Clearbridge Investments LLC lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 25.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,539,482 shares of the semiconductor company’s stock after selling 874,814 shares during the period. Clearbridge Investments LLC’s holdings in Marvell Technology were worth $280,486,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Marvell Technology in the fourth quarter valued at approximately $1,138,354,000. GQG Partners LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $802,410,000. Raymond James Financial Inc. acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $366,896,000. Artisan Partners Limited Partnership lifted its stake in Marvell Technology by 98.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock valued at $452,936,000 after purchasing an additional 2,034,353 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its holdings in shares of 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 buying an additional 1,911,532 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. JPMorgan Chase & Co. increased their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Susquehanna raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research note 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Down 4.3 %

Shares of MRVL opened at $62.04 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a market cap of $53.73 billion, a price-to-earnings ratio of -36.49, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a 50-day moving average price of $94.05 and a two-hundred day moving average price of $93.62. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

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

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,685 shares of company stock worth $4,026,768. Insiders own 0.33% of the company’s stock.

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.