Situational Awareness LP Invests $86.80 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Situational Awareness LP acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 785,896 shares of the semiconductor company's stock, valued at approximately $86,802,000. Marvell Technology makes up 34.1% of Situational Awareness LP's portfolio, making the stock its largest holding. Situational Awareness LP owned 0.09% of Marvell Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. State Street Corp lifted its stake in shares of Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC raised its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock worth $818,916,000 after acquiring an additional 219,692 shares during the period. Wellington Management Group LLP lifted its position in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock worth $627,034,000 after acquiring an additional 359,005 shares during the last quarter. GQG Partners LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $802,410,000. Finally, Nordea Investment Management AB grew its position in shares of Marvell Technology by 14.0% in 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. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction 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 owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company's stock.

Marvell Technology Price Performance

Shares of MRVL traded down $2.82 during mid-day trading on Friday, hitting $62.04. 18,769,219 shares of the company traded hands, compared to its average volume of 12,913,647. The business has a 50-day moving average of $94.05 and a 200 day moving average of $93.62. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. 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 stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology's payout ratio is -23.53%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MRVL. Summit Insights downgraded Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Benchmark reissued a "buy" rating and issued a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Citigroup reduced their price target on shares of Marvell Technology from $136.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC dropped their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Three 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's stock. Based on data from MarketBeat, Marvell Technology currently has an average 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.