Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,862,151 shares of the semiconductor company's stock after purchasing an additional 535,203 shares during the period. Marvell Technology accounts for approximately 0.6% of Nomura Asset Management Co. Ltd.'s portfolio, making the stock its 24th largest holding. Nomura Asset Management Co. Ltd. owned approximately 0.32% of Marvell Technology worth $206,418,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in Marvell Technology by 7.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,901 shares of the semiconductor company's stock valued at $832,000 after purchasing an additional 778 shares in the last quarter. Wedmont Private Capital boosted its position in Marvell Technology by 76.5% during the second quarter. Wedmont Private Capital now owns 8,487 shares of the semiconductor company's stock worth $625,000 after acquiring an additional 3,678 shares during the last quarter. Meyer Handelman Co. purchased a new stake in Marvell Technology in the 2nd quarter worth approximately $339,000. Diversified Trust Co acquired a new position in Marvell Technology in the 2nd quarter valued at $932,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Marvell Technology by 5.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 49,731 shares of the semiconductor company's stock worth $3,476,000 after purchasing an additional 2,441 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company's stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,000 shares of company stock worth $20,899,260. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Down 5.7 %

Shares of MRVL traded down $6.48 during trading on Monday, reaching $107.03. The company's stock had a trading volume of 17,619,266 shares, compared to its average volume of 12,342,353. The company has a market cap of $92.61 billion, a price-to-earnings ratio of -62.96, a P/E/G ratio of 3.79 and a beta of 1.46. 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 company has a fifty day moving average of $86.79 and a two-hundred day moving average of $75.83. Marvell Technology, Inc. has a twelve month low of $52.89 and a twelve month high of $119.88.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRVL. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Craig Hallum boosted their target price on shares of Marvell Technology from $88.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Evercore ISI increased their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. Bank of America boosted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities increased their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.04.

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.