Headlands Technologies LLC Acquires Shares of 17,070 Marvell Technology, Inc. (NASDAQ:MRVL)

Headlands Technologies LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,070 shares of the semiconductor company's stock, valued at approximately $1,885,000.

A number of other large investors have also recently added to or reduced their stakes in MRVL. Norges Bank bought a new position in shares of Marvell Technology during the fourth quarter worth about $1,138,354,000. GQG Partners LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $802,410,000. Wellington Management Group LLP boosted its position 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 worth $1,374,252,000 after acquiring an additional 3,747,982 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $366,896,000. Finally, Artisan Partners Limited Partnership raised its holdings 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 valued at $452,936,000 after purchasing an additional 2,034,353 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded up $0.56 during trading on Wednesday, reaching $63.23. The company's stock had a trading volume of 13,036,853 shares, compared to its average volume of 12,939,000. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business's 50-day moving average price is $90.32 and its 200-day moving average price is $93.37. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a market cap of $54.76 billion, a PE ratio of -37.19, a P/E/G ratio of 1.61 and a beta of 1.42.

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Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. Marvell Technology's payout ratio is presently -23.53%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company's stock, valued at $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 ninety days, insiders have sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MRVL shares. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Stifel Nicolaus dropped their target price on Marvell Technology from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. B. Riley raised their price target on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Summit Insights cut Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Three research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.