Banco Bilbao Vizcaya Argentaria S.A. Acquires 125,963 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 171.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,540 shares of the semiconductor company's stock after purchasing an additional 125,963 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Marvell Technology were worth $22,095,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Zweig DiMenna Associates LLC boosted its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new position in Marvell Technology in the fourth quarter worth about $637,000. RFG Advisory LLC lifted its position in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares during the last quarter. Franchise Capital Ltd bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $1,476,000. Finally, United Asset Strategies Inc. boosted its holdings in shares of Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after buying an additional 14,547 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

MRVL opened at $53.76 on Thursday. The stock has a market cap of $46.56 billion, a P/E ratio of -31.63, a P/E/G ratio of 1.61 and a beta of 1.78. 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 firm has a fifty day moving average price of $70.48 and a 200 day moving average price of $90.80. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares of the company's stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the transaction, the chief operating officer now owns 81,931 shares of the company's stock, valued at $5,639,310.73. This represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,930 shares of company stock worth $1,252,638 in the last ninety days. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRVL. Citigroup decreased their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. TD Cowen lowered their price objective on Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Melius Research raised Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Finally, Morgan Stanley cut their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.56.

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.

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