Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,479 shares of the semiconductor company’s stock after acquiring an additional 534 shares during the period. NorthRock Partners LLC’s holdings in Marvell Technology were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after buying an additional 3,737,705 shares during the period. Janus Henderson Group PLC boosted its holdings in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Wellington Management Group LLP lifted its holdings in 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 raised its position in shares of Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after buying an additional 80,005 shares during the last quarter. Finally, Norges Bank acquired a new stake in Marvell Technology in the 4th quarter valued at about $1,138,354,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brad W. Buss acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 38,915 shares of company stock valued at $2,679,800. 0.19% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $65.20 on Friday. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The stock has a market capitalization of $56.32 billion, a price-to-earnings ratio of -38.35, a PEG ratio of 1.61 and a beta of 1.83. The company has a 50-day simple moving average of $60.43 and a 200-day simple moving average of $88.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Bank of America dropped their price objective on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley reduced their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, KeyCorp cut their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned 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 target price of $111.27.

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.