Fidelis Capital Partners LLC Purchases 1,408 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Fidelis Capital Partners LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 37.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,194 shares of the semiconductor company’s stock after buying an additional 1,408 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Marvell Technology were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MRVL. Temasek Holdings Private Ltd lifted its position in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Marvell Technology in the third quarter worth about $120,116,000. Perpetual Ltd lifted its position in shares of Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Nordea Investment Management AB grew its stake 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 valued at $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after purchasing an additional 535,203 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 6.5 %

Shares of NASDAQ:MRVL opened at $85.83 on Tuesday. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company’s fifty day simple moving average is $111.63 and its 200 day simple moving average is $93.59. 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 Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MRVL. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.