Two Sigma Advisers LP Has $52.38 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Two Sigma Advisers LP lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1,868.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 474,272 shares of the semiconductor company’s stock after acquiring an additional 450,176 shares during the period. Two Sigma Advisers LP’s holdings in Marvell Technology were worth $52,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $27,000. Financial Life Planners bought a new stake in Marvell Technology in the fourth quarter valued at about $33,000. Lee Danner & Bass Inc. acquired a new position in Marvell Technology in the fourth quarter valued at about $35,000. Finally, Capital Analysts LLC boosted its holdings in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock worth $38,000 after buying an additional 241 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Down 1.9%

NASDAQ MRVL opened at $62.56 on Tuesday. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. 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 stock has a 50 day moving average of $60.22 and a 200-day moving average of $88.63. The company has a market cap of $54.04 billion, a PE ratio of -36.80, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insider Activity

In related news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were 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. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 626 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president now directly owns 626 shares in the company, valued at approximately $38,248.60. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock valued at $2,079,948 in the last quarter. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus lowered their price target on Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. KeyCorp reduced their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Barclays decreased their price target on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen dropped their price objective on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.69.

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.