Ostrum Asset Management Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Ostrum Asset Management boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,280 shares of the semiconductor company's stock after acquiring an additional 5,125 shares during the quarter. Ostrum Asset Management's holdings in Marvell Technology were worth $2,571,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $4.00 on Thursday, reaching $57.77. The stock had a trading volume of 11,340,333 shares, compared to its average volume of 13,564,117. 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, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock has a market cap of $50.03 billion, a P/E ratio of -33.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The company has a 50 day simple moving average of $70.48 and a 200 day simple moving average of $90.80.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Morgan Stanley dropped their target price on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Wells Fargo & Company reiterated an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Melius initiated coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a "buy" rating and a $188.00 price target for the company. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.56.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,930 shares of company stock worth $1,252,638 in the last quarter. Company 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.