Amundi Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Amundi lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,281,354 shares of the semiconductor company’s stock after buying an additional 549,705 shares during the period. Amundi owned 0.38% of Marvell Technology worth $387,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MRVL. Lodestone Wealth Management LLC increased its position in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. increased its position in Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares during the last quarter. Private Trust Co. NA increased its position in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares during the last quarter. Waldron Private Wealth LLC increased its position in Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 103 shares during the last quarter. Finally, Tsfg LLC increased its position in Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 2.0 %

NASDAQ MRVL opened at $70.84 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month 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. The company has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company’s fifty day moving average price is $108.27 and its two-hundred day moving average price is $93.84.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last ninety days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. Needham & Company LLC dropped their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen dropped their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Morgan Stanley dropped their price objective 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. Finally, Wells Fargo & Company increased their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

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.