Axiom Investors LLC DE Purchases Shares of 24,050 Marvell Technology, Inc. (NASDAQ:MRVL)

Axiom Investors LLC DE bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,050 shares of the semiconductor company's stock, valued at approximately $2,656,000.

Several other institutional investors have also recently made changes to their positions in the stock. Zweig DiMenna Associates LLC raised its holdings in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after buying an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology in the 4th quarter worth $637,000. RFG Advisory LLC increased its position in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares during the period. Nomura Asset Management Co. Ltd. raised 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 acquiring an additional 535,203 shares during the last quarter. Finally, Franchise Capital Ltd purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $1,476,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction on Monday, March 17th. The stock was 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 $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 over the last three months. 0.33% of the stock is owned by corporate insiders.

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Marvell Technology Trading Up 0.9 %

MRVL stock traded up $0.56 during mid-day trading on Wednesday, reaching $63.23. The company had a trading volume of 13,036,853 shares, compared to its average volume of 12,936,619. The firm has a 50 day moving average of $91.56 and a 200 day moving average of $93.58. 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 12 month low of $53.19 and a 12 month high of $127.48. The company has a market capitalization of $54.76 billion, a PE ratio of -37.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid 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 0.38%. Marvell Technology's dividend payout ratio is currently -23.53%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MRVL shares. Melius Research raised Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Barclays lowered their price target on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Bank of America lowered their price target on Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Finally, B. Riley upped their price target on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.