DigitalBridge Group Inc. Sells 31,460 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

DigitalBridge Group Inc. reduced its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 212,598 shares of the semiconductor company’s stock after selling 31,460 shares during the period. Marvell Technology comprises 1.7% of DigitalBridge Group Inc.’s portfolio, making the stock its 22nd biggest position. DigitalBridge Group Inc.’s holdings in Marvell Technology were worth $23,481,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MRVL. Intrepid Financial Planning Group LLC lifted its position in shares of Marvell Technology by 0.3% during the fourth 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 last quarter. PDS Planning Inc increased its stake in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC lifted its holdings in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted its position in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA grew its stake in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Bank of America dropped their price target on Marvell Technology from $120.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.52.

Marvell Technology Stock Down 1.9%

Shares of MRVL stock opened at $60.69 on Friday. The stock’s fifty day moving average price is $59.58 and its 200 day moving average price is $87.90. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a market cap of $52.43 billion, a price-to-earnings ratio of -35.70, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. 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 declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brad W. Buss acquired 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 33,541 shares of company stock worth $2,079,948. Insiders own 0.19% of the company’s stock.

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.