Mount Lucas Management LP Makes New $773,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Mount Lucas Management LP bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,000 shares of the semiconductor company's stock, valued at approximately $773,000.

A number of other hedge funds have also recently modified their holdings of MRVL. Lodestone Wealth Management LLC grew its holdings in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its position in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after purchasing an additional 96 shares during the period. Private Trust Co. NA grew its stake in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after buying an additional 97 shares during the last quarter. Waldron Private Wealth LLC grew its position in shares of Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company's stock worth $327,000 after acquiring an additional 103 shares during the last quarter. Finally, Tsfg LLC increased its stake in Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock valued at $176,000 after purchasing an additional 111 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 2.0 %

MRVL stock opened at $70.84 on Monday. 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 $108.27 and a 200-day simple moving average of $94.00. The company has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's dividend payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In other news, Director Brad W. Buss purchased 3,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America dropped their target price on Marvell Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday. Susquehanna upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday, January 10th. Craig Hallum increased their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.68.

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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.

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