Empowered Funds LLC Acquires 6,536 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Empowered Funds LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,636 shares of the semiconductor company's stock after acquiring an additional 6,536 shares during the period. Empowered Funds LLC's holdings in Marvell Technology were worth $5,261,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd increased its position in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock valued at $161,555,000 after buying an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology in the 3rd quarter valued at about $120,116,000. Van ECK Associates Corp increased its position in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Perpetual Ltd increased its position in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company's stock valued at $77,591,000 after buying an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Marvell Technology by 14.0% in the 4th 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 in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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Marvell Technology Stock Up 2.9 %

MRVL traded up $3.01 on Friday, hitting $106.51. The company had a trading volume of 13,532,440 shares, compared to its average volume of 13,070,750. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The stock has a fifty day simple moving average of $113.94 and a 200-day simple moving average of $90.62. The firm has a market capitalization of $92.16 billion, a P/E ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio is -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company's stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares of the company's stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,255 shares of company stock valued at $3,692,880. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MRVL. B. Riley boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Susquehanna boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research note on Wednesday, December 4th. Piper Sandler reiterated an "overweight" rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Barclays upped their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus upped their price objective on Marvell Technology from $125.00 to $130.00 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 issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and an average price target of $127.60.

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.