Melqart Asset Management UK Ltd Has $23.66 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Melqart Asset Management UK Ltd raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,197 shares of the semiconductor company’s stock after purchasing an additional 17,434 shares during the period. Marvell Technology accounts for approximately 2.9% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 11th biggest position. Melqart Asset Management UK Ltd’s holdings in Marvell Technology were worth $23,658,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MRVL. Aquatic Capital Management LLC bought a new position in Marvell Technology in the 4th quarter valued at about $24,752,000. Johnson Financial Group Inc. grew its position in shares of Marvell Technology by 125.0% in the fourth quarter. Johnson Financial Group Inc. now owns 423 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 235 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Marvell Technology during the fourth quarter worth approximately $1,628,000. Coldstream Capital Management Inc. lifted its holdings in Marvell Technology by 1.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company’s stock worth $1,253,000 after purchasing an additional 116 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 241 shares during the period. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 27,390 shares of company stock valued at $1,937,938 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $58.92 on Friday. The stock has a 50-day moving average price of $68.53 and a two-hundred day moving average price of $90.71. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a market capitalization of $51.03 billion, a PE ratio of -34.66, a P/E/G ratio of 1.61 and a beta of 1.78. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.41%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Melius began coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Barclays decreased their target price on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.56.

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.