Ceredex Value Advisors LLC Sells 745,063 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Ceredex Value Advisors LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 44.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 portfolio, making the stock its biggest position. Ceredex Value Advisors LLC owned 0.11% of Marvell Technology worth $100,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. M&T Bank Corp grew its stake in Marvell Technology by 0.5% during the 3rd quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company’s stock worth $6,275,000 after purchasing an additional 448 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Marvell Technology by 8.0% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock valued at $1,716,000 after buying an additional 1,773 shares during the period. World Investment Advisors LLC grew its position in shares of Marvell Technology by 1.4% during the third quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock worth $2,911,000 after buying an additional 560 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Marvell Technology during the third quarter worth approximately $3,432,000. Finally, Synovus Financial Corp lifted its stake in Marvell Technology by 60.5% in the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after acquiring an additional 2,445 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, March 6th. Barclays dropped their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC reduced their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, The Goldman Sachs Group raised their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.48.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 28,685 shares of company stock valued at $2,953,523. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 2.0 %

NASDAQ:MRVL opened at $53.32 on Wednesday. The stock has a market capitalization of $46.18 billion, a price-to-earnings ratio of -31.36, a PEG ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock has a fifty day moving average price of $77.26 and a two-hundred day moving average price of $91.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Marvell Technology 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.