2,117 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel reports. The firm bought 2,117 shares of the semiconductor company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Intrepid Financial Planning Group LLC lifted its position in Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc lifted its position in Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. lifted its position in Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $63.76 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $55.08 billion, a P/E ratio of -37.51, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The business’s 50-day moving average is $60.36 and its 200 day moving average is $88.68.

Marvell Technology Announces Dividend

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. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology’s payout ratio is currently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,239 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.01, for a total value of $80,547.39. Following the sale, the chief accounting officer now directly owns 30,855 shares in the company, valued at $2,005,883.55. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,915 shares of company stock valued at $2,679,800 over the last ninety days. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

MRVL has been the topic of several analyst reports. Needham & Company LLC lowered their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Benchmark lowered their price objective on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Bank of America lowered their price objective on Marvell Technology from $120.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.27.

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.