Marvell Technology, Inc. (NASDAQ:MRVL) Position Increased by APG Asset Management N.V.

APG Asset Management N.V. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 794.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 517,833 shares of the semiconductor company's stock after purchasing an additional 459,933 shares during the quarter. APG Asset Management N.V. owned 0.06% of Marvell Technology worth $55,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. Invesco Ltd. raised its position in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the period. Wellington Management Group LLP grew its stake in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the last quarter. Geode Capital Management LLC increased 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 buying an additional 80,005 shares during the period. Norges Bank bought a new stake in Marvell Technology in the fourth quarter valued at $1,138,354,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock valued at $838,617,000 after acquiring an additional 1,691,242 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Needham & Company LLC dropped their price target on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Bank of America cut their price target on Marvell Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. Finally, Craig Hallum lifted their target price on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $119.48.

Marvell Technology Trading Up 1.0 %

Shares of NASDAQ:MRVL traded up $0.52 during midday trading on Friday, reaching $53.39. The company had a trading volume of 17,706,981 shares, compared to its average volume of 13,431,231. The company has a fifty day simple moving average of $79.86 and a two-hundred day simple moving average of $92.18. 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 firm has a market cap of $46.24 billion, a price-to-earnings ratio of -31.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,185 shares of company stock worth $3,131,018 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.