Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 702.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 377,031 shares of the semiconductor company's stock after acquiring an additional 330,034 shares during the period. Federated Hermes Inc.'s holdings in Marvell Technology were worth $41,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Marvell Technology during the fourth quarter worth $1,138,354,000. GQG Partners LLC acquired a new position in Marvell Technology in the 4th quarter worth approximately $802,410,000. Wellington Management Group LLP lifted its stake in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $366,896,000. Finally, Artisan Partners Limited Partnership increased its stake in shares of Marvell Technology by 98.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company's stock worth $452,936,000 after acquiring an additional 2,034,353 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Down 0.7 %

Shares of Marvell Technology stock traded down $0.37 on Friday, reaching $52.44. The company had a trading volume of 6,817,088 shares, compared to its average volume of 13,438,715. 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 firm has a market cap of $45.42 billion, a PE ratio of -31.00, a PEG ratio of 1.61 and a beta of 1.78. The firm's 50 day moving average price is $80.99 and its two-hundred day moving average price is $92.17. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48.

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Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. Marvell Technology's payout ratio is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares of the company's stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,185 shares of company stock valued at $3,131,018. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

MRVL has been the topic of several recent research reports. Loop Capital raised shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Barclays decreased their price target on Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.