Quantinno Capital Management LP Has $3.75 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Quantinno Capital Management LP raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 44.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 52,048 shares of the semiconductor company's stock after acquiring an additional 15,968 shares during the period. Quantinno Capital Management LP's holdings in Marvell Technology were worth $3,754,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quarry LP grew its holdings in Marvell Technology by 412.5% in the 3rd quarter. Quarry LP now owns 2,378 shares of the semiconductor company's stock valued at $172,000 after buying an additional 1,914 shares during the period. Royal London Asset Management Ltd. grew its holdings in Marvell Technology by 4.2% in the third quarter. Royal London Asset Management Ltd. now owns 406,079 shares of the semiconductor company's stock valued at $29,286,000 after purchasing an additional 16,442 shares during the period. Point72 Italy S.r.l. acquired a new position in Marvell Technology during the third quarter worth approximately $1,976,000. Polymer Capital Management HK LTD purchased a new position in Marvell Technology during the third quarter worth approximately $447,000. Finally, Needham Investment Management LLC boosted its holdings in shares of Marvell Technology by 13.8% in the 3rd quarter. Needham Investment Management LLC now owns 70,000 shares of the semiconductor company's stock valued at $5,048,000 after purchasing an additional 8,500 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research analyst reports. Barclays upped their price objective on Marvell Technology from $85.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. KeyCorp raised their price objective on Marvell Technology from $95.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Evercore ISI increased their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average target price of $119.04.

Marvell Technology Trading Down 5.7 %

Shares of MRVL traded down $6.48 during trading hours on Monday, reaching $107.03. 17,613,128 shares of the company's stock traded hands, compared to its average volume of 12,922,380. The business's fifty day simple moving average is $86.09 and its two-hundred day simple moving average is $75.60. Marvell Technology, Inc. has a twelve month low of $50.56 and a twelve month high of $119.88. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology's dividend payout ratio is currently -14.12%.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company's stock, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 over the last three months. Corporate insiders own 0.33% of the company's stock.

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.