AIA Group Ltd Acquires New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

AIA Group Ltd bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,794 shares of the semiconductor company’s stock, valued at approximately $640,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter worth about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Marvell Technology stock opened at $61.57 on Tuesday. 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 stock has a market cap of $53.32 billion, a P/E ratio of -36.22, a P/E/G ratio of 1.61 and a beta of 1.42. The company’s 50 day moving average price is $92.78 and its two-hundred day moving average price is $93.66. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on MRVL shares. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler cut their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus lowered their price objective on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insider Activity

In related news, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 in the last ninety days. 0.33% of the stock is currently owned by insiders.

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.