AustralianSuper Pty Ltd Buys New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

AustralianSuper Pty Ltd purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,330 shares of the semiconductor company's stock, valued at approximately $699,000.

Other institutional investors also recently made changes to their positions in the company. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Financial Life Planners purchased a new position in Marvell Technology in the fourth quarter valued at approximately $33,000. GHP Investment Advisors Inc. raised its stake in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 112 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded up $3.75 during trading hours on Wednesday, reaching $111.04. The company's stock had a trading volume of 12,686,851 shares, compared to its average volume of 13,036,065. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company's 50 day simple moving average is $113.93 and its 200 day simple moving average is $91.10. 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 market cap of $96.08 billion, a P/E ratio of -65.32, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology's payout ratio is currently -14.12%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group boosted their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Oppenheimer boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Rosenblatt Securities increased their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Craig Hallum upped their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Three equities 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $127.60.

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.