Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Titan Global Capital Management USA LLC

Titan Global Capital Management USA LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,851 shares of the semiconductor company’s stock after purchasing an additional 3,186 shares during the period. Titan Global Capital Management USA LLC’s holdings in Marvell Technology were worth $3,297,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during the period. Wellington Management Group LLP raised its stake in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Norges Bank acquired a new stake in shares of Marvell Technology during the fourth quarter worth $1,138,354,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Marvell Technology by 28.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock worth $838,617,000 after purchasing an additional 1,691,242 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 directly owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,185 shares of company stock valued at $3,131,018 in the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Down 13.3 %

Shares of NASDAQ:MRVL opened at $52.87 on Friday. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week 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 company has a market capitalization of $45.79 billion, a P/E ratio of -31.10, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The company has a 50-day simple moving average of $80.99 and a 200 day simple moving average of $92.17.

Marvell Technology Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Company 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.