Olympiad Research LP Buys Shares of 2,946 Marvell Technology, Inc. (NASDAQ:MRVL)

Olympiad Research LP bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,946 shares of the semiconductor company’s stock, valued at approximately $325,000.

Several other hedge funds have also recently bought and sold shares of MRVL. Pinnacle Financial Partners Inc grew its holdings in shares of Marvell Technology by 2.8% during the 4th quarter. Pinnacle Financial Partners Inc now owns 137,170 shares of the semiconductor company’s stock valued at $15,150,000 after purchasing an additional 3,783 shares during the last quarter. Callan Capital LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at approximately $500,000. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at approximately $26,000. Waterfront Wealth Inc. grew its holdings in shares of Marvell Technology by 1.1% during the 4th quarter. Waterfront Wealth Inc. now owns 10,592 shares of the semiconductor company’s stock valued at $1,170,000 after purchasing an additional 116 shares during the last quarter. Finally, Aspen Investment Management Inc grew its holdings in shares of Marvell Technology by 9.3% during the 4th quarter. Aspen Investment Management Inc now owns 4,988 shares of the semiconductor company’s stock valued at $551,000 after purchasing an additional 426 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 4.5 %

Marvell Technology stock opened at $103.85 on Friday. 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, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm’s fifty day moving average is $113.59 and its 200 day moving average is $92.25. The company has a market capitalization of $89.86 billion, a PE ratio of -61.09, a PEG ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MRVL shares. Stifel Nicolaus lifted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.