Bridges Investment Management Inc. Has $329,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Bridges Investment Management Inc. reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 21.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,977 shares of the semiconductor company’s stock after selling 829 shares during the quarter. Bridges Investment Management Inc.’s holdings in Marvell Technology were worth $329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth approximately $26,000. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners bought a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, GHP Investment Advisors Inc. increased its position in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Marvell Technology stock opened at $85.83 on Tuesday. 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 firm has a market cap of $74.27 billion, a P/E ratio of -50.49, a P/E/G ratio of 1.61 and a beta of 1.40. The business’s fifty day moving average is $111.63 and its two-hundred day moving average is $93.59. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MRVL. Benchmark reaffirmed a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Three 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.60.

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.