Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Raised by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,091 shares of the semiconductor company’s stock after purchasing an additional 3,894 shares during the period. Assetmark Inc.’s holdings in Marvell Technology were worth $4,759,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Swedbank AB raised its position in Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Marvell Technology by 7.6% during the 3rd quarter. Impax Asset Management Group plc now owns 574,996 shares of the semiconductor company’s stock valued at $41,469,000 after acquiring an additional 40,796 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Marvell Technology by 16.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,888 shares of the semiconductor company’s stock valued at $353,000 after acquiring an additional 696 shares during the last quarter. Graypoint LLC boosted its stake in Marvell Technology by 7.1% during the 3rd quarter. Graypoint LLC now owns 3,124 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 206 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Marvell Technology during the 3rd quarter valued at approximately $72,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MRVL. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Craig Hallum raised their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup lowered their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus lowered their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday. Three equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

MRVL stock opened at $70.84 on Friday. The business’s 50-day moving average price is $108.27 and its two-hundred day moving average price is $93.84. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market cap of $61.30 billion, a PE ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

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.