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

DigitalBridge Group Inc. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 212,598 shares of the semiconductor company's stock after selling 31,460 shares during the period. Marvell Technology comprises about 1.7% of DigitalBridge Group Inc.'s investment portfolio, making the stock its 22nd biggest holding. DigitalBridge Group Inc.'s holdings in Marvell Technology were worth $23,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC grew its stake 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 acquiring an additional 90 shares in the last quarter. PDS Planning Inc grew its position in 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 purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC increased its stake in Marvell Technology by 2.0% in 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 during the period. Valley National Advisers Inc. increased 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 valued at $2,775,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA lifted its position 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 buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $1.36 during trading hours on Wednesday, hitting $65.18. 12,005,168 shares of the company's stock were exchanged, compared to its average volume of 14,234,513. The company's 50-day moving average price is $59.26 and its 200-day moving average price is $87.45. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The stock has a market capitalization of $56.30 billion, a price-to-earnings ratio of -38.26, a PEG 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. Stockholders of record on Friday, April 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Activity

In other Marvell Technology news, CAO Panteha Dixon sold 1,239 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.01, for a total value of $80,547.39. Following the sale, the chief accounting officer now directly owns 30,855 shares in the company, valued at $2,005,883.55. This trade represents a 3.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,541 shares of company stock valued at $2,079,948. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Citigroup lowered their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Stifel Nicolaus reduced their target price on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley decreased their target price on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.93.

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.