Bridges Investment Management Inc. Has $329,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Bridges Investment Management Inc. cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 21.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,977 shares of the semiconductor company’s stock after selling 829 shares during the quarter. Bridges Investment Management Inc.’s holdings in Marvell Technology were worth $329,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC lifted its position in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. raised its position in shares of 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 acquiring an additional 96 shares during the period. Private Trust Co. NA raised its position in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares during the period. Waldron Private Wealth LLC raised its position in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after acquiring an additional 103 shares during the period. Finally, Tsfg LLC raised its position in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 111 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Cantor Fitzgerald increased their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Finally, Needham & Company LLC increased their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 6.5 %

NASDAQ MRVL opened at $85.83 on Tuesday. The company has a market cap of $74.27 billion, a PE ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. 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 $53.19 and a 12 month high of $127.48. The stock has a 50 day moving average of $111.63 and a 200-day moving average of $93.59.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Marvell Technology 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.