Hood River Capital Management LLC Has $18.97 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Hood River Capital Management LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,765 shares of the semiconductor company's stock after acquiring an additional 30,879 shares during the quarter. Hood River Capital Management LLC's holdings in Marvell Technology were worth $18,971,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter worth about $26,000. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth 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 bought a new position in Marvell Technology during the fourth quarter valued at about $27,000. Kieckhefer Group LLC acquired a new position in Marvell Technology in the 4th quarter valued at approximately $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 2.8 %

Shares of NASDAQ MRVL traded up $1.59 during mid-day trading on Friday, hitting $58.92. The company's stock had a trading volume of 11,919,398 shares, compared to its average volume of 13,618,558. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The company's fifty day simple moving average is $68.53 and its 200-day simple moving average is $90.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market cap of $51.03 billion, a price-to-earnings ratio of -34.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The firm also recently announced 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. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 27,390 shares of company stock valued at $1,937,938 in the last 90 days. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MRVL. Craig Hallum boosted their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a research note on Thursday, March 6th. Needham & Company LLC reduced their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Finally, Rosenblatt Securities restated a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $114.56.

Marvell Technology Company 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.