Sava Infond d.o.o. Makes New $6.74 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Sava Infond d.o.o. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,000 shares of the semiconductor company’s stock, valued at approximately $6,737,000. Marvell Technology accounts for 1.2% of Sava Infond d.o.o.’s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRVL. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at about $26,000. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology in the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 in the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $66.76 on Thursday. The stock has a market cap of $57.82 billion, a price-to-earnings ratio of -39.27, a PEG ratio of 1.61 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $96.36 and a 200 day simple moving average of $93.72. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MRVL shares. Susquehanna raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group increased their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, B. Riley boosted 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. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.