Wellington Management Group LLP Has $1.37 Billion Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Wellington Management Group LLP increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 43.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,442,302 shares of the semiconductor company’s stock after buying an additional 3,747,982 shares during the period. Wellington Management Group LLP owned 1.44% of Marvell Technology worth $1,374,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Norges Bank bought a new stake in Marvell Technology in the fourth quarter worth $1,138,354,000. GQG Partners LLC acquired a new position in Marvell Technology during the fourth quarter valued at approximately $802,410,000. Raymond James Financial Inc. bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $366,896,000. Artisan Partners Limited Partnership lifted its stake in shares of Marvell Technology by 98.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock worth $452,936,000 after buying an additional 2,034,353 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its holdings in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 4.3 %

Shares of MRVL opened at $62.04 on Monday. The business’s 50 day simple moving average is $94.05 and its 200-day simple moving average is $93.75. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a market capitalization of $53.73 billion, a P/E ratio of -36.49, a PEG 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is presently -23.53%.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the subject of a number of research analyst reports. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. The Goldman Sachs Group increased their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Cantor Fitzgerald increased their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

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.