Aquatic Capital Management LLC Purchases Shares of 224,101 Marvell Technology, Inc. (NASDAQ:MRVL)

Aquatic Capital Management LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 224,101 shares of the semiconductor company's stock, valued at approximately $24,752,000. Marvell Technology accounts for approximately 0.7% of Aquatic Capital Management LLC's portfolio, making the stock its 27th biggest position.

Several other hedge funds have also bought and sold shares of the stock. Invesco Ltd. grew its position in Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after buying an additional 3,737,705 shares during the period. Wellington Management Group LLP grew its position in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Geode Capital Management LLC increased its stake in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after purchasing an additional 80,005 shares in the last quarter. Norges Bank acquired a new position in Marvell Technology in the 4th quarter worth about $1,138,354,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Marvell Technology by 28.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock valued at $838,617,000 after purchasing an additional 1,691,242 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler decreased their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Melius initiated coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a "buy" rating and a $188.00 target price on the stock. Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. Barclays lowered their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.56.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,390 shares of company stock valued at $1,937,938. Company insiders own 0.33% of the company's stock.

Marvell Technology Trading Down 0.4 %

Shares of NASDAQ:MRVL traded down $0.22 during midday trading on Monday, reaching $58.70. 13,831,452 shares of the company's stock were exchanged, compared to its average volume of 13,627,748. The firm's 50 day simple moving average is $67.49 and its two-hundred day simple moving average is $90.73. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. 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 stock has a market cap of $50.84 billion, a price-to-earnings ratio of -34.53, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The business 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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

About Marvell Technology

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.