TigerOak Management L.L.C. Buys Shares of 4,596 Marvell Technology, Inc. (NASDAQ:MRVL)

TigerOak Management L.L.C. bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel.com reports. The fund bought 4,596 shares of the semiconductor company’s stock, valued at approximately $508,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC grew its stake in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC lifted its holdings in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology during the third quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.9 %

Shares of MRVL opened at $106.51 on Friday. 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, Inc. has a one year low of $53.19 and a one year high of $127.48. The stock has a market capitalization of $92.16 billion, a price-to-earnings ratio of -62.65, a PEG ratio of 1.77 and a beta of 1.40. The stock has a 50 day moving average price of $113.94 and a 200 day moving average price of $90.62.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Rosenblatt Securities lifted their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Cantor Fitzgerald boosted their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley decreased their price target on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is owned by corporate 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.