Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Lessened by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 44.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 913,220 shares of the semiconductor company’s stock after selling 745,063 shares during the quarter. Marvell Technology makes up approximately 2.0% of Ceredex Value Advisors LLC’s holdings, making the stock its largest holding. Ceredex Value Advisors LLC’s holdings in Marvell Technology were worth $100,865,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. United Capital Financial Advisors LLC lifted its stake in shares of Marvell Technology by 2.2% during the 4th quarter. United Capital Financial Advisors LLC now owns 9,862 shares of the semiconductor company’s stock worth $1,089,000 after purchasing an additional 211 shares during the period. Gamco Investors INC. ET AL acquired a new position in Marvell Technology in the fourth quarter valued at $287,000. Ontario Teachers Pension Plan Board purchased a new position in Marvell Technology during the fourth quarter worth about $428,000. Canada Post Corp Registered Pension Plan acquired a new stake in Marvell Technology in the 4th quarter worth about $14,621,000. Finally, LaSalle St. Investment Advisors LLC purchased a new stake in Marvell Technology in the 4th quarter valued at about $226,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $53.32 on Wednesday. The firm has a market cap of $46.18 billion, a price-to-earnings ratio of -31.36, a PEG ratio of 1.61 and a beta of 1.78. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $77.26 and its two-hundred day moving average is $91.78. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48.

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. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.45%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. KeyCorp dropped their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Morgan Stanley lowered their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Finally, Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Three research 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’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $119.48.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,685 shares of company stock worth $2,953,523 in the last ninety days. 0.33% of the stock is owned by insiders.

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.