Retireful LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Retireful LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,243 shares of the semiconductor company's stock, valued at approximately $1,463,000.

Other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after buying an additional 2,254,610 shares in the last quarter. Temasek Holdings Private Ltd raised its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock valued at $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology during the third quarter worth $120,116,000. Van ECK Associates Corp boosted its holdings in shares of Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock valued at $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Finally, D1 Capital Partners L.P. bought a new position in shares of Marvell Technology in the 2nd quarter valued at $108,204,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Craig Hallum boosted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company upped their price objective on Marvell Technology from $130.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $123.08.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Up 6.1 %

Shares of NASDAQ MRVL traded up $7.18 during midday trading on Friday, hitting $124.76. 14,849,059 shares of the stock traded hands, compared to its average volume of 10,915,694. 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 one year low of $53.19 and a one year high of $126.15. The business has a 50 day moving average price of $106.09 and a two-hundred day moving average price of $84.09. The company has a market cap of $107.95 billion, a PE ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology's dividend payout ratio is presently -14.12%.

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.