Rakuten Securities Inc. Purchases 2,211 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Rakuten Securities Inc. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 39.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,865 shares of the semiconductor company’s stock after acquiring an additional 2,211 shares during the period. Rakuten Securities Inc.’s holdings in Marvell Technology were worth $869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MRVL. State Street Corp raised its position in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC boosted its stake in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP boosted its stake in shares of Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Nordea Investment Management AB raised its holdings in shares of Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Marvell Technology by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after purchasing an additional 165,858 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $67.16 on Wednesday. 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 12 month low of $53.19 and a 12 month high of $127.48. The company has a fifty day simple moving average of $107.36 and a 200 day simple moving average of $93.97. The stock has a market cap of $58.11 billion, a P/E ratio of -39.51, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insiders Place Their Bets

In other news, Director Brad W. Buss bought 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 purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Bank of America cut their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Barclays lowered their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.