Price T Rowe Associates Inc. MD Increases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Price T Rowe Associates Inc. MD increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,080,921 shares of the semiconductor company's stock after acquiring an additional 1,018,839 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.82% of Marvell Technology worth $782,089,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC raised its holdings in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after buying an additional 90 shares during the period. PDS Planning Inc raised its stake in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC lifted its holdings in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after acquiring an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA grew its holdings 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 valued at $414,000 after purchasing an additional 97 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent analyst reports. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research report on Thursday, March 6th. Bank of America dropped their price objective on Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus reduced their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Finally, Needham & Company LLC cut their price target on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $114.56.

Marvell Technology Stock Up 6.2 %

NASDAQ:MRVL opened at $53.76 on Thursday. The company's 50-day simple moving average is $70.48 and its 200-day simple moving average is $90.80. 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 fifty-two week low of $47.09 and a fifty-two week high of $127.48. The stock has a market capitalization of $46.56 billion, a P/E ratio of -31.63, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

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

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the 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 in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,930 shares of company stock valued at $1,252,638. 0.33% of the stock is currently owned by insiders.

About Marvell Technology

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.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.