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

Crescent Park Management L.P. decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 48.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,467 shares of the semiconductor company’s stock after selling 10,905 shares during the period. Marvell Technology comprises 0.5% of Crescent Park Management L.P.’s investment portfolio, making the stock its 23rd biggest position. Crescent Park Management L.P.’s holdings in Marvell Technology were worth $1,267,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the period. Geode Capital Management LLC lifted its holdings in Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares in the last quarter. Norges Bank purchased a new position in Marvell Technology in the 4th quarter valued at approximately $1,138,354,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Marvell Technology by 28.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock worth $838,617,000 after acquiring an additional 1,691,242 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Up 1.8 %

Shares of MRVL stock opened at $62.67 on Wednesday. The company has a market capitalization of $54.28 billion, a P/E ratio of -36.86, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $91.56 and its two-hundred day moving average is $93.58. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. Craig Hallum increased their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Piper Sandler lowered their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Three investment 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. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.