DnB Asset Management AS Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

DnB Asset Management AS raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 159,027 shares of the semiconductor company's stock after buying an additional 7,770 shares during the quarter. DnB Asset Management AS's holdings in Marvell Technology were worth $17,565,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MRVL. Cerity Partners LLC increased its position in shares of Marvell Technology by 84.3% in the 3rd quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company's stock valued at $4,401,000 after acquiring an additional 27,902 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Marvell Technology in the third quarter valued at about $516,000. D.A. Davidson & CO. raised its stake in shares of Marvell Technology by 8.5% in the third quarter. D.A. Davidson & CO. now owns 60,056 shares of the semiconductor company's stock worth $4,331,000 after purchasing an additional 4,718 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Marvell Technology by 54.9% during the third quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company's stock worth $842,000 after purchasing an additional 4,136 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in Marvell Technology in the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares of the company's stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 over the last ninety days. Company insiders own 0.33% of the company's stock.

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Marvell Technology Trading Down 2.1 %

NASDAQ MRVL traded down $1.30 on Monday, reaching $60.74. 10,595,605 shares of the company were exchanged, compared to its average volume of 12,907,007. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock has a market capitalization of $52.60 billion, a P/E ratio of -35.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The business's fifty day moving average price is $94.05 and its 200 day moving average price is $93.75. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Analysts Set New Price Targets

MRVL has been the subject of several research reports. Craig Hallum lifted their price objective 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. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. William Blair raised Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC reduced their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Three equities 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 stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $120.44.

Marvell Technology Company 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.