Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1,006.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 806,027 shares of the semiconductor company’s stock after buying an additional 733,147 shares during the quarter. Prudential Financial Inc. owned 0.09% of Marvell Technology worth $89,026,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $26,000. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at about $27,000. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at about $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $72.76 on Tuesday. The company has a 50-day moving average price of $98.21 and a two-hundred day moving average price of $93.87. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of -42.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The firm 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 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays cut their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald lifted their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, March 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.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % 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 quarter. Corporate 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.