Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,141,372 shares of the semiconductor company's stock after acquiring an additional 121,983 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Marvell Technology worth $126,065,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ORG Partners LLC boosted its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Financial Life Planners acquired a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. GHP Investment Advisors Inc. lifted its holdings in shares of Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 112 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 326 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MRVL shares. Cantor Fitzgerald increased their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. KeyCorp increased their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Benchmark reaffirmed a "buy" rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $127.60.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company's stock.

Marvell Technology Price Performance

Marvell Technology stock traded down $4.86 during midday trading on Friday, reaching $103.85. 11,006,714 shares of the company were exchanged, compared to its average volume of 12,895,910. The company has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a P/E/G ratio of 1.64 and a beta of 1.40. The firm's 50-day simple moving average is $113.93 and its 200-day simple moving average is $91.69. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year 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.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

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.