Mizuho Bank Ltd. Invests $50,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Mizuho Bank Ltd. purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 450 shares of the semiconductor company’s stock, valued at approximately $50,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its stake in Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Wellington Management Group LLP increased its holdings in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the period. Norges Bank purchased a new position in shares of Marvell Technology in the fourth quarter valued at about $1,138,354,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock valued at $838,617,000 after acquiring an additional 1,691,242 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Down 11.2 %

MRVL stock opened at $49.43 on Friday. Marvell Technology, Inc. has a 52 week low of $47.31 and a 52 week high of $127.48. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm’s 50-day moving average is $87.42 and its two-hundred day moving average is $92.94. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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 given 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 0.49%. Marvell Technology’s payout ratio is presently -23.53%.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. KeyCorp reduced their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley decreased their price objective on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group upped their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Barclays lowered their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Three investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling

In other news, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,185 shares of company stock worth $3,744,268. 0.33% of the stock is owned by company 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.