Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Increased by Sei Investments Co.

Sei Investments Co. boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 64.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,077,226 shares of the semiconductor company’s stock after buying an additional 421,349 shares during the period. Sei Investments Co.’s holdings in Marvell Technology were worth $118,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $366,896,000. Temasek Holdings Private Ltd grew its holdings in shares of Marvell Technology by 581.8% during 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 purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Marvell Technology during the third quarter valued at approximately $120,116,000. Perpetual Ltd grew 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 valued at $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Finally, Talos Asset Management LP bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $64,347,000. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Brad W. Buss acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $70.39 on Friday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month 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. The firm has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a PEG ratio of 1.61 and a beta of 1.42. The stock has a fifty day moving average of $99.06 and a 200-day moving average of $93.69.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is -23.53%.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. Piper Sandler lowered their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Bank of America decreased their price objective on Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. KeyCorp decreased their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $120.44.

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.