DJE Kapital AG Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

DJE Kapital AG acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 63,045 shares of the semiconductor company’s stock, valued at approximately $6,975,000.

Other hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter valued at approximately $26,000. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Financial Life Planners purchased a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Finally, GHP Investment Advisors Inc. grew its position in shares of Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $91.82 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $79.45 billion, a PE ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. The firm has a fifty day simple moving average of $111.63 and a two-hundred day simple moving average of $93.59. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America boosted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. B. Riley boosted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp boosted their price target on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

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.