Dimensional Fund Advisors LP Reduces Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Dimensional Fund Advisors LP reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 26.1% during the fourth quarter, Holdings Channel reports. The firm owned 2,605,621 shares of the semiconductor company’s stock after selling 919,461 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Marvell Technology were worth $287,824,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Marvell Technology by 43.1% in 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 acquiring an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the period. Norges Bank purchased a new stake in Marvell Technology in the fourth quarter worth $1,138,354,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock valued at $838,617,000 after buying an additional 1,691,242 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 0.4 %

Shares of NASDAQ MRVL opened at $51.70 on Monday. 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. The firm’s 50-day moving average price is $73.72 and its 200-day moving average price is $91.50. The stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of -30.41, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Barclays dropped their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Bank of America decreased their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Three research 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’s stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity

In other Marvell Technology news, 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 value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,930 shares of company stock valued at $1,999,038. 0.33% of the stock is currently owned by insiders.

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.