Marvell Technology, Inc. (NASDAQ:MRVL) is Ardmore Road Asset Management LP's 6th Largest Position

Ardmore Road Asset Management LP increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 20.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 300,000 shares of the semiconductor company's stock after acquiring an additional 50,000 shares during the period. Marvell Technology makes up about 4.8% of Ardmore Road Asset Management LP's portfolio, making the stock its 6th largest holding. Ardmore Road Asset Management LP's holdings in Marvell Technology were worth $33,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MRVL. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth about $26,000. ORG Partners LLC increased its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 0.9 %

NASDAQ:MRVL traded up $0.56 during midday trading on Wednesday, reaching $63.23. The company had a trading volume of 13,036,853 shares, compared to its average volume of 12,939,000. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $54.76 billion, a price-to-earnings ratio of -37.19, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock's fifty day simple moving average is $90.32 and its 200-day simple moving average is $93.37.

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Marvell Technology Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction 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 owns 31,100 shares of the company's stock, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent research reports. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Barclays dropped their price target on Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Morgan Stanley lowered their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They issued a "buy" rating and a $188.00 target price for the company. Finally, Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.44.

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.