Sei Investments Co. Purchases 421,349 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sei Investments Co. grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 64.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,077,226 shares of the semiconductor company's stock after buying an additional 421,349 shares during the quarter. Sei Investments Co. owned approximately 0.12% of Marvell Technology worth $118,977,000 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 MRVL. True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% in the third 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 during the last quarter. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth about $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. Institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the sale, the director now owns 30,959 shares in the company, valued at $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock valued at $4,026,768 in the last ninety days. Insiders own 0.33% of the company's stock.

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Wall Street Analysts Forecast Growth

MRVL has been the subject of several analyst reports. UBS Group boosted their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, Melius began coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a "buy" rating and a $188.00 price target for the company. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.44.

Marvell Technology Price Performance

Marvell Technology stock traded down $4.91 during mid-day trading on Wednesday, hitting $66.76. 19,769,914 shares of the company were exchanged, compared to its average volume of 12,616,490. The company has a market capitalization of $57.82 billion, a PE ratio of -39.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The business has a fifty day moving average of $97.34 and a 200 day moving average of $93.91. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is currently -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.