Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 334.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,149 shares of the semiconductor company's stock after acquiring an additional 17,049 shares during the quarter. Magnetar Financial LLC's holdings in Marvell Technology were worth $2,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC boosted its position in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc lifted its stake in Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC boosted its position in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. grew its stake in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

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Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares of the company's stock, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several research reports. Bank of America dropped their target price on Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Oppenheimer lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler reduced their target price 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. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a "buy" rating and a $188.00 price target for the company. Finally, Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $120.44.

Marvell Technology Stock Performance

NASDAQ MRVL traded up $2.37 during trading on Monday, reaching $72.76. The company's stock had a trading volume of 12,177,019 shares, compared to its average volume of 12,604,481. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market cap of $63.01 billion, a price-to-earnings ratio of -42.80, a P/E/G ratio of 1.61 and a beta of 1.42. The business's fifty day moving average price is $99.06 and its 200-day moving average price is $93.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently disclosed 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 yield of 0.33%. Marvell Technology's payout ratio is -23.53%.

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.