Mediolanum International Funds Ltd Buys New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Mediolanum International Funds Ltd purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,143 shares of the semiconductor company’s stock, valued at approximately $1,241,000.

Several other large investors also recently bought and sold shares of the stock. Capital Investment Advisory Services LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $221,000. OLD National Bancorp IN purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $237,000. First Affirmative Financial Network purchased a new position in Marvell Technology in the 4th quarter valued at about $206,000. Synergy Asset Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $93,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in Marvell Technology in the 4th quarter worth approximately $1,104,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MRVL shares. TD Cowen raised their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup lifted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities boosted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Up 2.3 %

Shares of MRVL opened at $112.86 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average is $111.72 and its two-hundred day moving average is $87.65. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market capitalization of $97.66 billion, a P/E ratio of -66.39, a PEG ratio of 3.51 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

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.