Korea Investment CORP Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Korea Investment CORP boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 658,563 shares of the semiconductor company’s stock after buying an additional 61,367 shares during the period. Korea Investment CORP owned 0.08% of Marvell Technology worth $72,738,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $26,000. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRVL. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Trading Down 6.9 %

Shares of NASDAQ MRVL opened at $66.76 on Thursday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market cap of $57.82 billion, a PE ratio of -39.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The business has a fifty day simple moving average of $96.36 and a two-hundred day simple moving average of $93.72. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

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 paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.