Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 760,900.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,100 shares of the semiconductor company's stock after acquiring an additional 76,090 shares during the quarter. Marvell Technology accounts for 3.0% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 16th biggest holding. Berkshire Capital Holdings Inc.'s holdings in Marvell Technology were worth $8,405,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRVL. State Street Corp increased its position in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock worth $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 219,692 shares during the last quarter. Wellington Management Group LLP boosted 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 valued at $627,034,000 after buying an additional 359,005 shares during the last quarter. Nordea Investment Management AB boosted its stake in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company's stock valued at $518,435,000 after buying an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marvell Technology by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company's stock valued at $378,594,000 after purchasing an additional 165,858 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Remove Ads

Marvell Technology Price Performance

Shares of Marvell Technology stock traded down $0.10 on Friday, hitting $70.39. The company's stock had a trading volume of 11,931,502 shares, compared to its average volume of 12,606,196. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm has a fifty day moving average price of $99.06 and a 200-day moving average price of $93.85. 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 company has a market capitalization of $60.96 billion, a price-to-earnings ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 yield of 0.34%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

Insiders Place Their Bets

In related news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last three months, insiders sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MRVL shares. Bank of America lowered their price objective on Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus reduced 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. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three investment 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.44.

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.