Fox Run Management L.L.C. Buys Shares of 4,862 Marvell Technology, Inc. (NASDAQ:MRVL)

Fox Run Management L.L.C. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,862 shares of the semiconductor company’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. KLP Kapitalforvaltning AS acquired a new stake in shares of Marvell Technology during the fourth quarter valued at about $45,211,000. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $60,000. Intellus Advisors LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $928,000. Sei Investments Co. raised its position in Marvell Technology by 64.2% in the fourth quarter. Sei Investments Co. now owns 1,077,226 shares of the semiconductor company’s stock valued at $118,977,000 after purchasing an additional 421,349 shares during the period. Finally, American Century Companies Inc. lifted its stake in Marvell Technology by 17.8% during the fourth quarter. American Century Companies Inc. now owns 845,065 shares of the semiconductor company’s stock worth $93,337,000 after purchasing an additional 127,832 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares in the company, valued at approximately $5,639,310.73. The trade was a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock valued at $4,026,768 over the last quarter. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $71.67 on Wednesday. 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 1-year low of $53.19 and a 1-year high of $127.48. The stock has a market cap of $62.07 billion, a PE ratio of -42.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm has a fifty day moving average price of $97.34 and a 200 day moving average price of $93.91.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRVL. Needham & Company LLC cut their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus dropped their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.44.

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.