Prudential Financial Inc. Has $89.03 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Prudential Financial Inc. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1,006.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 806,027 shares of the semiconductor company's stock after buying an additional 733,147 shares during the period. Prudential Financial Inc. owned 0.09% of Marvell Technology worth $89,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. State Street Corp raised its holdings in shares of Marvell Technology by 0.3% during 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 purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC increased its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock worth $818,916,000 after buying an additional 219,692 shares during the last quarter. Wellington Management Group LLP raised its holdings in Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock valued at $627,034,000 after buying an additional 359,005 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company's stock valued at $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Marvell Technology by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company's stock worth $378,594,000 after purchasing an additional 165,858 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently commented on MRVL shares. UBS Group lifted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Rosenblatt Securities reissued a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.44.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded down $2.82 during mid-day trading on Friday, reaching $62.04. 18,769,219 shares of the stock were exchanged, compared to its average volume of 12,913,629. The company has a market cap of $53.73 billion, a price-to-earnings ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. 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 firm has a 50-day simple moving average of $94.05 and a 200 day simple moving average of $93.47.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio is -23.53%.

Insider Buying and Selling

In other news, Director Michael G. Strachan sold 5,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were 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. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last 90 days. Corporate insiders own 0.33% of the company's stock.

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.