Artisan Partners Limited Partnership Buys 2,034,353 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Artisan Partners Limited Partnership boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 98.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,100,825 shares of the semiconductor company's stock after purchasing an additional 2,034,353 shares during the period. Artisan Partners Limited Partnership owned about 0.47% of Marvell Technology worth $452,936,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC lifted its holdings in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc lifted its stake in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after acquiring an additional 92 shares during the last quarter. Lodestone Wealth Management LLC grew its position in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after acquiring an additional 93 shares in the last quarter. Valley National Advisers Inc. grew its position in Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

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Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Barclays decreased their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus lowered their price objective on Marvell Technology from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. KeyCorp reduced their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.44.

Marvell Technology Price Performance

NASDAQ:MRVL traded down $2.82 during trading hours on Friday, reaching $62.04. The company had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,647. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $94.05 and a two-hundred 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 firm has a market capitalization of $53.73 billion, a PE ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

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

Insider Activity at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now directly owns 30,959 shares of the company's stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company's stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock valued at $4,026,768 in the last ninety days. Insiders own 0.33% of the company's stock.

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.