State of New Jersey Common Pension Fund D Has $35.04 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 317,231 shares of the semiconductor company’s stock after selling 721 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Marvell Technology were worth $35,038,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MRVL. Exchange Traded Concepts LLC increased its stake in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 336 shares during the last quarter. Creative Planning boosted its holdings in shares of Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after buying an additional 28,286 shares during the period. NBC Securities Inc. boosted its holdings in shares of Marvell Technology by 20.5% during the 3rd quarter. NBC Securities Inc. now owns 2,466 shares of the semiconductor company’s stock worth $177,000 after buying an additional 419 shares during the period. Swedbank AB boosted its holdings in Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in Marvell Technology by 11.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,714 shares of the semiconductor company’s stock valued at $989,000 after purchasing an additional 1,423 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $106.51 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company’s 50 day simple moving average is $113.94 and its 200 day simple moving average is $90.79.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology 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 sale, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MRVL shares. Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley reduced their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

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.