7,264,921 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by GQG Partners LLC

GQG Partners LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 7,264,921 shares of the semiconductor company's stock, valued at approximately $802,410,000. Marvell Technology accounts for about 1.2% of GQG Partners LLC's investment portfolio, making the stock its 27th largest position. GQG Partners LLC owned approximately 0.84% of Marvell Technology at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Marvell Technology during the fourth quarter worth about $366,896,000. Temasek Holdings Private Ltd lifted its position in shares of Marvell Technology by 581.8% during 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 acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $120,116,000. Prudential Financial Inc. grew its holdings in shares of Marvell Technology by 1,006.0% in the 4th quarter. Prudential Financial Inc. now owns 806,027 shares of the semiconductor company's stock worth $89,026,000 after acquiring an additional 733,147 shares during the period. Finally, Perpetual Ltd increased its stake 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 purchasing an additional 682,457 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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Marvell Technology Stock Down 4.3 %

Marvell Technology stock traded down $2.82 during midday trading on Friday, hitting $62.04. 18,769,219 shares of the stock were exchanged, compared to its average volume of 12,913,647. 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 company has a 50 day moving average price of $94.05 and a two-hundred day moving average price of $93.47. The firm has a market cap of $53.73 billion, a P/E ratio of -36.49, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Analyst Ratings Changes

MRVL has been the topic of several research reports. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Morgan Stanley lowered their price target on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Finally, B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.44.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade 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 can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company's stock.

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.