Private Advisor Group LLC Acquires 3,646 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Private Advisor Group LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,719 shares of the semiconductor company’s stock after purchasing an additional 3,646 shares during the period. Private Advisor Group LLC’s holdings in Marvell Technology were worth $5,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Temasek Holdings Private Ltd boosted its holdings in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the period. Holocene Advisors LP bought a new stake in Marvell Technology in the 3rd quarter valued at $120,116,000. Van ECK Associates Corp boosted its stake in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the period. Perpetual Ltd increased its holdings in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares in the company, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last quarter. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $103.85 on Friday. The firm has a market capitalization of $89.86 billion, a PE ratio of -61.09, a PEG ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company’s 50-day moving average is $113.59 and its 200-day moving average is $92.25. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed 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 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. 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 report on Monday, January 6th. Rosenblatt Securities increased their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report 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 research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.