E. Ohman J or Asset Management AB Buys 4,100 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

E. Ohman J or Asset Management AB boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,000 shares of the semiconductor company’s stock after acquiring an additional 4,100 shares during the period. E. Ohman J or Asset Management AB’s holdings in Marvell Technology were worth $4,308,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares during the period. Geode Capital Management LLC boosted its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP grew its stake in Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after buying an additional 359,005 shares in the last quarter. Van ECK Associates Corp raised its holdings in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 over the last three months. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Up 0.6 %

Shares of MRVL stock opened at $113.56 on Tuesday. The business has a 50-day moving average of $112.15 and a 200 day moving average of $87.97. 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, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MRVL shares. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. B. Riley increased their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. KeyCorp boosted their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.