Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,612 shares of the semiconductor company’s stock after purchasing an additional 10,600 shares during the quarter. NEOS Investment Management LLC’s holdings in Marvell Technology were worth $6,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MRVL. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Morgan Stanley decreased their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus dropped their price target on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Transactions at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase 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 Trading Down 2.8 %

Shares of MRVL stock opened at $64.86 on Friday. The stock has a 50-day simple moving average of $95.30 and a 200 day simple moving average of $93.52. The stock has a market capitalization of $56.17 billion, a P/E ratio of -38.15, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

About Marvell Technology

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.