M.D. Sass LLC Has $66.17 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

M.D. Sass LLC lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 43.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 599,096 shares of the semiconductor company’s stock after selling 460,485 shares during the period. Marvell Technology accounts for approximately 5.0% of M.D. Sass LLC’s investment portfolio, making the stock its 4th biggest holding. M.D. Sass LLC’s holdings in Marvell Technology were worth $66,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. FineMark National Bank & Trust purchased a new stake in Marvell Technology in the fourth quarter worth about $11,829,000. GQG Partners LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $802,410,000. Princeton Capital Management LLC grew its position in shares of Marvell Technology by 4.7% in the 4th quarter. Princeton Capital Management LLC now owns 19,737 shares of the semiconductor company’s stock worth $2,180,000 after buying an additional 880 shares during the period. EntryPoint Capital LLC bought a new position in shares of Marvell Technology in the 4th quarter worth about $306,000. Finally, Segall Bryant & Hamill LLC lifted its position in Marvell Technology by 12.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 428,375 shares of the semiconductor company’s stock valued at $47,314,000 after acquiring an additional 46,087 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MRVL shares. Morgan Stanley dropped their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Trading Up 3.4 %

Shares of NASDAQ:MRVL opened at $72.76 on Tuesday. The stock has a 50 day moving average of $98.21 and a 200 day moving average of $93.87. The company has a market cap of $63.01 billion, a PE ratio of -42.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last three months. Corporate 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.