Pallas Capital Advisors LLC Has $5.67 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Pallas Capital Advisors LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,347 shares of the semiconductor company’s stock after selling 2,177 shares during the period. Pallas Capital Advisors LLC’s holdings in Marvell Technology were worth $5,671,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares during the last quarter. Holocene Advisors LP purchased a new stake in Marvell Technology during the third quarter valued at about $120,116,000. Van ECK Associates Corp boosted its position in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares during the period. Finally, D1 Capital Partners L.P. purchased a new position in Marvell Technology during the 2nd quarter valued at $108,204,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

NASDAQ:MRVL traded up $0.83 during trading hours on Monday, hitting $115.15. The company’s stock had a trading volume of 9,599,076 shares, compared to its average volume of 10,792,062. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $99.64 billion, a P/E ratio of -67.73, a PEG ratio of 4.03 and a beta of 1.41. The stock has a fifty day simple moving average of $103.93 and a 200-day simple moving average of $82.98.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 2,500 shares of the 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 directly owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock valued at $15,163,420 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRVL. Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Craig Hallum upped their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday. Loop Capital lifted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley lifted their target price on Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $121.68.

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.