Stonebridge Capital Advisors LLC Lowers Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Stonebridge Capital Advisors LLC trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,530 shares of the semiconductor company’s stock after selling 1,425 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Marvell Technology were worth $12,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co increased its position in Marvell Technology by 8.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock worth $1,716,000 after purchasing an additional 1,773 shares during the period. World Investment Advisors LLC lifted its holdings in Marvell Technology by 1.4% in the third quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock valued at $2,911,000 after acquiring an additional 560 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Marvell Technology during the 3rd quarter worth $3,432,000. Synovus Financial Corp increased its holdings in shares of Marvell Technology by 60.5% in the 3rd quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock valued at $468,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in shares of Marvell Technology by 27.3% in the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after purchasing an additional 5,005 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were 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 of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,930 shares of company stock worth $1,252,638 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $53.76 on Thursday. The company has a market capitalization of $46.56 billion, a price-to-earnings ratio of -31.63, a PEG ratio of 1.61 and a beta of 1.78. The stock’s 50 day moving average is $70.48 and its 200-day moving average is $90.80. 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, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.45%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $135.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. TD Cowen cut their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Citigroup lowered their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Barclays reduced their price target on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.56.

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.