Korea Investment CORP grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 658,563 shares of the semiconductor company's stock after buying an additional 61,367 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Marvell Technology worth $72,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC grew its holdings in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $33,000. Institutional investors own 83.51% of the company's stock.
Marvell Technology Price Performance
Marvell Technology stock traded down $2.82 on Friday, reaching $62.04. The company's stock had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,647. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a market cap of $53.73 billion, a price-to-earnings ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42. 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 business's fifty day moving average price is $94.05 and its 200 day moving average price is $93.62.
Marvell Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.
Wall Street Analyst Weigh In
Several research analysts recently commented on MRVL shares. Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.44.
Check Out Our Latest Report on Marvell Technology
Insider Activity at Marvell Technology
In related news, EVP Mark Casper sold 7,755 shares of the firm's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brad W. Buss acquired 3,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last quarter. Corporate insiders own 0.33% of the company's stock.
Marvell Technology Company Profile
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Free Report)
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.
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