Candriam S.C.A. Has $94.48 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Candriam S.C.A. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 855,368 shares of the semiconductor company’s stock after purchasing an additional 87,652 shares during the period. Candriam S.C.A.’s holdings in Marvell Technology were worth $94,475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Raymond James Financial Inc. acquired a new position in shares of Marvell Technology in the 4th quarter valued at $366,896,000. Temasek Holdings Private Ltd lifted its stake in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new stake in Marvell Technology during the third quarter worth approximately $120,116,000. Perpetual Ltd increased its holdings in shares of Marvell Technology by 3,405.3% during the fourth 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 during the period. Finally, Nordea Investment Management AB increased its stake in Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 2.0 %

NASDAQ:MRVL opened at $90.14 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The business has a 50 day simple moving average of $110.52 and a 200 day simple moving average of $93.84. The firm has a market capitalization of $78.00 billion, a P/E ratio of -53.02, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The company 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. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value 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 $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MRVL shares. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus increased their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $127.60.

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.