Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 42.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the semiconductor company’s stock after purchasing an additional 613 shares during the quarter. Harbour Investments Inc.’s holdings in Marvell Technology were worth $228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after acquiring an additional 165,858 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MRVL. TD Cowen decreased their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Benchmark restated a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Trading Down 0.1 %

NASDAQ MRVL opened at $70.39 on Friday. 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 firm’s fifty day moving average price is $99.06 and its 200 day moving average price is $93.52. The company has a market capitalization of $60.96 billion, a price-to-earnings ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 in the last ninety days. Insiders own 0.33% of the company’s stock.

About Marvell Technology

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.