Pinebridge Investments L.P. Has $15.83 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Pinebridge Investments L.P. lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,306 shares of the semiconductor company's stock after acquiring an additional 29,819 shares during the quarter. Pinebridge Investments L.P.'s holdings in Marvell Technology were worth $15,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MRVL. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. ORG Partners LLC boosted its stake 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 buying an additional 149 shares during the period. Rialto Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, Financial Life Planners bought a new stake in Marvell Technology during the fourth quarter worth about $33,000. Institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MRVL. Piper Sandler reduced their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Stifel Nicolaus cut their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Finally, Needham & Company LLC cut their target price on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.56.

Insiders Place Their Bets

In other news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares of the company's stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 14,930 shares of company stock worth $1,252,638. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $53.76 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The business has a fifty day moving average of $70.48 and a 200 day moving average of $90.80. The firm has a market capitalization of $46.56 billion, a price-to-earnings ratio of -31.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is presently -23.53%.

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.

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