Ilmarinen Mutual Pension Insurance Co Has $13.81 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,000 shares of the semiconductor company's stock after purchasing an additional 50,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Marvell Technology were worth $13,806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVL. State Street Corp grew its stake in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock valued at $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the last quarter. Geode Capital Management LLC grew its position in Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after acquiring an additional 80,005 shares in the last quarter. Norges Bank acquired a new position in shares of Marvell Technology during the 4th quarter worth $1,138,354,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Marvell Technology by 28.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock valued at $838,617,000 after purchasing an additional 1,691,242 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now 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. Over the last ninety days, insiders have sold 30,185 shares of company stock valued at $3,131,018. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $1.01 during midday trading on Wednesday, reaching $51.04. 8,351,442 shares of the company traded hands, compared to its average volume of 16,876,867. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock's 50-day simple moving average is $84.23 and its 200-day simple moving average is $92.60. The firm has a market cap of $44.20 billion, a PE ratio of -30.12, a PEG ratio of 1.61 and a beta of 1.78.

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 given a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Melius Research raised Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Citigroup reduced their target price on Marvell Technology from $136.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Barclays decreased their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Three equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.44.

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.