Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Ossiam

Ossiam boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 33,243 shares of the semiconductor company's stock after acquiring an additional 6,221 shares during the quarter. Ossiam's holdings in Marvell Technology were worth $3,672,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Marvell Technology by 93.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 207,268 shares of the semiconductor company's stock valued at $22,893,000 after purchasing an additional 100,013 shares during the period. Curi RMB Capital LLC raised its position in shares of Marvell Technology by 1.6% in the fourth quarter. Curi RMB Capital LLC now owns 132,473 shares of the semiconductor company's stock worth $14,632,000 after acquiring an additional 2,052 shares during the period. Freedom Investment Management Inc. purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $644,000. GeoWealth Management LLC raised its holdings in Marvell Technology by 266.9% in the 4th quarter. GeoWealth Management LLC now owns 3,757 shares of the semiconductor company's stock worth $415,000 after purchasing an additional 2,733 shares during the period. Finally, Commerce Bank boosted its position in Marvell Technology by 2.8% during the fourth quarter. Commerce Bank now owns 31,538 shares of the semiconductor company's stock worth $3,483,000 after purchasing an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 6.2 %

Shares of NASDAQ:MRVL traded up $3.14 during trading hours on Wednesday, reaching $53.76. The stock had a trading volume of 18,555,665 shares, compared to its average volume of 13,551,998. The stock has a market capitalization of $46.56 billion, a price-to-earnings ratio of -31.63, a P/E/G ratio of 1.61 and a beta of 1.78. 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's 50 day moving average is $71.54 and its 200-day moving average is $91.05. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued 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 payout ratio is -23.53%.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent analyst reports. Bank of America cut their price objective on Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Benchmark restated a "buy" rating and set a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Piper Sandler lowered their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $114.56.

Insider Activity at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,930 shares of company stock valued at $1,252,638 in the last ninety days. 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.