DigitalBridge Group Inc. Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)
DigitalBridge Group Inc. reduced its stake in Marvell Technology, Inc. by 12.9% in Q4, now holding 212,598 shares valued at $23.48 million. Other hedge funds also adjusted their positions, with most institutional investors owning 83.51% of the stock. Insider trading included a purchase by Director Brad W. Buss and a sale by COO Chris Koopmans. Analysts have mixed ratings on Marvell, with a consensus target price of $114.56 and a majority rating it as a "Moderate Buy."
DigitalBridge Group Inc. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 212,598 shares of the semiconductor company's stock after selling 31,460 shares during the quarter. Marvell Technology makes up about 1.7% of DigitalBridge Group Inc.'s investment portfolio, making the stock its 21st largest holding. DigitalBridge Group Inc.'s holdings in Marvell Technology were worth $23,481,000 at the end of the most recent reporting period.
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Several other hedge funds also recently made changes to their positions in the company. Intrepid Financial Planning Group LLC increased its position in 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 valued at $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after acquiring an additional 92 shares in the last quarter. Lodestone Wealth Management LLC raised its position in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its stake 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 worth $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA grew its position in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 97 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Brad W. Buss bought 3,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,890 shares of company stock worth $2,027,938. 0.33% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
- Marvell Gets Tariff Lifeline But Expect More Volatility
MRVL has been the topic of a number of recent analyst reports. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Thursday, March 6th. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Barclays lowered their price target on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC decreased their target price on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.56.
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Marvell Technology Trading Down 1.2 %
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MRVL stock opened at $61.22 on Wednesday. The firm has a fifty day moving average price of $63.04 and a 200 day moving average price of $89.85. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The firm has a market cap of $52.88 billion, a PE ratio of -36.01, 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 quick ratio of 1.11 and a current ratio of 1.60.
Marvell Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology's payout ratio is currently -23.53%.
About Marvell Technology
(Free Report)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.
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