Marvell Technology, Inc. (NASDAQ:MRVL) is Atalan Capital Partners LP's 8th Largest Position

Atalan Capital Partners LP decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,000 shares of the semiconductor company's stock after selling 1,275,000 shares during the quarter. Marvell Technology comprises approximately 5.8% of Atalan Capital Partners LP's investment portfolio, making the stock its 8th biggest holding. Atalan Capital Partners LP owned about 0.06% of Marvell Technology worth $58,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MRVL. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new position in Marvell Technology in the fourth quarter valued at about $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Down 0.6 %

Marvell Technology stock traded down $0.35 during trading hours on Monday, reaching $61.98. 9,090,005 shares of the company's stock were exchanged, compared to its average volume of 13,693,947. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm's 50 day simple moving average is $64.22 and its 200 day simple moving average is $90.18. The firm has a market capitalization of $53.68 billion, a PE ratio of -36.46, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio is currently -23.53%.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. Barclays reduced their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a "buy" rating and a $188.00 price target on the stock. KeyCorp reduced their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Benchmark reiterated a "buy" rating and issued a $135.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Three equities 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $114.56.

Insider Activity at Marvell Technology

In related news, 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 transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 28,890 shares of company stock worth $2,027,938 in the last quarter. Company insiders own 0.33% of the company's stock.

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.