Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,737 shares of the semiconductor company’s stock after acquiring an additional 880 shares during the quarter. Marvell Technology accounts for 0.7% of Princeton Capital Management LLC’s portfolio, making the stock its 28th largest position. Princeton Capital Management LLC’s holdings in Marvell Technology were worth $2,180,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MRVL. EntryPoint Capital LLC bought a new position in shares of Marvell Technology in the fourth quarter worth $306,000. Segall Bryant & Hamill LLC grew its position in Marvell Technology by 12.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 428,375 shares of the semiconductor company’s stock valued at $47,314,000 after buying an additional 46,087 shares in the last quarter. Taikang Asset Management Hong Kong Co Ltd acquired a new position in Marvell Technology during the 4th quarter valued at about $3,833,000. Prudential Financial Inc. raised its position in shares of Marvell Technology by 1,006.0% during the 4th quarter. Prudential Financial Inc. now owns 806,027 shares of the semiconductor company’s stock worth $89,026,000 after buying an additional 733,147 shares in the last quarter. Finally, Congress Wealth Management LLC DE acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $1,234,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 3.4 %

MRVL opened at $72.76 on Tuesday. The company has a market capitalization of $63.01 billion, a PE ratio of -42.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The business has a 50-day moving average of $98.21 and a 200-day moving average of $93.87.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on MRVL shares. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Stifel Nicolaus cut their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three research 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 company’s stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.