Jackson Square Capital LLC Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Jackson Square Capital LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 726.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,484 shares of the semiconductor company's stock after purchasing an additional 27,676 shares during the period. Jackson Square Capital LLC's holdings in Marvell Technology were worth $3,477,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MRVL. ORG Partners LLC lifted its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares during the period. Quarry LP purchased a new position in shares of Marvell Technology in the second quarter valued at $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter valued at $32,000. Institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MRVL. Benchmark reaffirmed a "buy" rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Needham & Company LLC raised their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Stifel Nicolaus upped their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.08.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company's stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,099,650 over the last three months. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

NASDAQ:MRVL traded up $7.18 on Friday, hitting $124.76. The stock had a trading volume of 14,849,059 shares, compared to its average volume of 13,008,617. The business's 50-day simple moving average is $106.70 and its two-hundred day simple moving average is $84.55. The stock has a market cap of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology's payout ratio is currently -14.12%.

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.