American Century Companies Inc. Grows Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

American Century Companies Inc. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845,065 shares of the semiconductor company's stock after buying an additional 127,832 shares during the quarter. American Century Companies Inc. owned 0.10% of Marvell Technology worth $93,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRVL. State Street Corp raised its position in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock valued at $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Geode Capital Management LLC raised its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock valued at $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock worth $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Marvell Technology by 14.0% in the 4th 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marvell Technology by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company's stock worth $378,594,000 after buying an additional 165,858 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

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Wall Street Analyst Weigh In

MRVL has been the subject of several research reports. Cantor Fitzgerald increased their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Morgan Stanley cut their price objective 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. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Craig Hallum boosted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Marvell Technology in a research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.44.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 sale, the executive vice president now directly owns 93,931 shares of the company's stock, valued at $11,685,016.40. The trade was a 6.00 % 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 owned by company insiders.

Marvell Technology Trading Down 4.3 %

MRVL stock traded down $2.82 during midday trading on Friday, reaching $62.04. The company's stock had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,629. The firm 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, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a fifty day simple moving average of $94.05 and a two-hundred day simple moving average of $93.47.

Marvell Technology Announces Dividend

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