Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Crescent Park Management L.P.

Crescent Park Management L.P. decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 48.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,467 shares of the semiconductor company’s stock after selling 10,905 shares during the quarter. Marvell Technology accounts for 0.5% of Crescent Park Management L.P.’s portfolio, making the stock its 23rd largest position. Crescent Park Management L.P.’s holdings in Marvell Technology were worth $1,267,000 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. Intrepid Financial Planning Group LLC lifted its stake in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc lifted its holdings in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC boosted its position in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 93 shares during the last quarter. Valley National Advisers Inc. grew its holdings in Marvell Technology by 0.4% in the fourth 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 increased its holdings in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MRVL. UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Needham & Company LLC cut their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Citigroup cut their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Up 1.8 %

MRVL stock opened at $62.67 on Wednesday. The firm has a market cap of $54.28 billion, a price-to-earnings ratio of -36.86, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a fifty day moving average price of $91.56 and a two-hundred day moving average price of $93.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 over the last quarter. 0.33% of the stock is owned by company insiders.

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.