Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Man Group plc

Man Group plc lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 95.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,652 shares of the semiconductor company’s stock after acquiring an additional 27,734 shares during the period. Man Group plc’s holdings in Marvell Technology were worth $6,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nicholas Investment Partners LP bought a new position in Marvell Technology during the 4th quarter worth $542,000. NorthRock Partners LLC boosted its stake in Marvell Technology by 9.0% during the fourth quarter. NorthRock Partners LLC now owns 6,479 shares of the semiconductor company’s stock valued at $716,000 after buying an additional 534 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after purchasing an additional 6,543,132 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Marvell Technology in the 4th quarter valued at $5,465,000. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Marvell Technology by 20.0% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 36,005 shares of the semiconductor company’s stock valued at $3,977,000 after purchasing an additional 6,009 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 1.8%

Shares of MRVL opened at $61.42 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The firm has a market capitalization of $53.06 billion, a PE ratio of -36.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The stock’s fifty day simple moving average is $60.07 and its 200-day simple moving average is $88.44.

Marvell Technology Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MRVL shares. TD Cowen decreased their price objective on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. KeyCorp cut their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.69.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology 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 sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by company insiders.

Marvell Technology 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.