Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Decreased by Knightsbridge Asset Management LLC

Knightsbridge Asset Management LLC cut its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,409 shares of the semiconductor company's stock after selling 5,406 shares during the period. Marvell Technology accounts for 2.9% of Knightsbridge Asset Management LLC's investment portfolio, making the stock its 8th largest holding. Knightsbridge Asset Management LLC's holdings in Marvell Technology were worth $12,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Zweig DiMenna Associates LLC grew its position in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC increased its position in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock worth $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Franchise Capital Ltd purchased a new stake in shares of Marvell Technology in the 4th quarter valued at about $1,476,000. Finally, United Asset Strategies Inc. boosted its position in shares of Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after purchasing an additional 14,547 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of MRVL traded up $0.25 during trading hours on Tuesday, reaching $58.95. 7,526,958 shares of the company traded hands, compared to its average volume of 13,604,878. The stock has a market capitalization of $51.06 billion, a PE ratio of -34.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The stock has a fifty day simple moving average of $67.49 and a 200 day simple moving average of $90.73. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio is presently -23.53%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. Morgan Stanley decreased their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group boosted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.56.

Insider Activity at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction 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 document filed with the SEC, which is available through this link. Also, Director Brad W. Buss bought 3,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company's stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 27,390 shares of company stock valued at $1,937,938. Company insiders own 0.33% of the company's stock.

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.