Varenne Capital Partners Makes New $582,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Varenne Capital Partners purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,268 shares of the semiconductor company’s stock, valued at approximately $582,000. Marvell Technology comprises approximately 0.2% of Varenne Capital Partners’ investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zweig DiMenna Associates LLC boosted its holdings in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC increased its stake in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the period. Finally, Franchise Capital Ltd acquired a new position in Marvell Technology in the 4th quarter valued at approximately $1,476,000. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 4.3 %

Shares of Marvell Technology stock opened at $62.04 on Friday. The company has a 50 day simple moving average of $94.05 and a two-hundred day simple moving average of $93.62. The firm has a market cap of $53.73 billion, a PE ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MRVL shares. KeyCorp decreased their price target 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. Citigroup lowered their price objective on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Morgan Stanley decreased their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. B. Riley increased their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently 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.