Schroder Investment Management Group Raises Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Schroder Investment Management Group boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 58.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 698,996 shares of the semiconductor company’s stock after buying an additional 258,533 shares during the period. Schroder Investment Management Group’s holdings in Marvell Technology were worth $77,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $26,000. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MRVL. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC dropped their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Piper Sandler reduced their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $62.04 on Monday. The company has a market cap of $53.73 billion, a price-to-earnings ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a fifty day simple moving average of $94.05 and a two-hundred day simple moving average of $93.75.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insider Activity

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brad W. Buss bought 3,000 shares of the company’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 acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by company insiders.

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.