Cresset Asset Management LLC Has $6.19 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Cresset Asset Management LLC decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,065 shares of the semiconductor company's stock after selling 13,583 shares during the period. Cresset Asset Management LLC's holdings in Marvell Technology were worth $6,192,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Invesco Ltd. grew its stake in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares in the last quarter. Wellington Management Group LLP grew 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 valued at $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 80,005 shares during the last quarter. Norges Bank acquired a new position in shares of Marvell Technology in the 4th quarter valued at approximately $1,138,354,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Marvell Technology by 28.7% during the 4th 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 last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 12,460 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $90,000.00. Following the sale, the chief financial officer now owns 124,348 shares of the company's stock, valued at $7,460,880. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,890 shares of company stock valued at $2,027,938. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays cut their price target on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research note on Thursday, March 6th. Needham & Company LLC decreased their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus decreased their price target on 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, KeyCorp cut their price objective on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $110.30.

Marvell Technology Price Performance

Marvell Technology stock traded up $2.02 during trading hours on Friday, hitting $59.65. 14,683,638 shares of the company traded hands, compared to its average volume of 13,894,073. The firm's 50-day simple moving average is $61.19 and its two-hundred day simple moving average is $89.29. The firm has a market cap of $51.53 billion, a P/E ratio of -35.09, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year 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.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

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.