Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Quantum Private Wealth LLC

Quantum Private Wealth LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 33,833 shares of the semiconductor company’s stock after purchasing an additional 357 shares during the period. Marvell Technology accounts for 1.2% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 13th biggest position. Quantum Private Wealth LLC’s holdings in Marvell Technology were worth $3,737,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. State Street Corp lifted its position in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 219,692 shares during the period. Wellington Management Group LLP lifted its holdings in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares during the last quarter. Van ECK Associates Corp boosted its stake in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.9 %

Marvell Technology stock opened at $106.51 on Friday. The firm has a market cap of $92.16 billion, a price-to-earnings ratio of -62.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm’s 50 day moving average price is $113.94 and its two-hundred day moving average price is $90.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,255 shares of company stock valued at $3,692,880 over the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Susquehanna boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Morgan Stanley lowered their price target on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Cantor Fitzgerald lifted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Bank of America upped their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Melius began coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. Three equities 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 price target of $127.60.

Marvell Technology 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.