Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 69.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,294 shares of the semiconductor company’s stock after acquiring an additional 3,406 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Marvell Technology were worth $916,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Marvell Technology by 0.3% in the third 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 219,692 shares in the last quarter. Wellington Management Group LLP grew its position in shares of 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 buying an additional 359,005 shares during the last quarter. Van ECK Associates Corp raised its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MRVL shares. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Melius initiated coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Finally, TD Cowen lifted their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 4.5 %

NASDAQ:MRVL opened at $103.85 on Monday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a fifty day moving average price of $113.59 and a two-hundred day moving average price of $92.50. The stock has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a PEG ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.