104,960 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Allianz SE

Allianz SE bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 104,960 shares of the semiconductor company's stock, valued at approximately $11,720,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Marvell Technology during the 4th quarter worth $1,138,354,000. GQG Partners LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $802,410,000. Raymond James Financial Inc. purchased a new stake in shares of Marvell Technology in the 4th quarter valued at about $366,896,000. Artisan Partners Limited Partnership boosted its position in shares of Marvell Technology by 98.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company's stock valued at $452,936,000 after purchasing an additional 2,034,353 shares during the period. Finally, Temasek Holdings Private Ltd grew its stake 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 during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL traded down $0.44 during midday trading on Monday, reaching $61.60. 12,841,809 shares of the company's stock were exchanged, compared to its average volume of 12,925,819. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The stock has a market capitalization of $53.35 billion, a PE ratio of -36.24, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business's 50-day moving average price is $94.05 and its 200 day moving average price is $93.75.

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Marvell Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have 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. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Stifel Nicolaus reduced their target price on shares of Marvell Technology from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Morgan Stanley lowered their price target on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, Citigroup reduced their price objective on Marvell Technology from $136.00 to $122.00 and set a "buy" rating for the company in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.44.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of Marvell Technology 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company'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 transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last three months. 0.33% of the stock is currently owned by insiders.

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.