Sciencast Management LP Invests $1.91 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Sciencast Management LP bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,328 shares of the semiconductor company's stock, valued at approximately $1,914,000.

A number of other hedge funds have also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC raised its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at $637,000. RFG Advisory LLC raised its holdings in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after acquiring an additional 66,654 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock valued at $206,418,000 after purchasing an additional 535,203 shares during the period. 83.51% of the stock is currently owned by institutional investors.

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Marvell Technology Stock Performance

NASDAQ MRVL traded down $1.09 on Tuesday, reaching $71.67. 9,431,825 shares of the company's stock traded hands, compared to its average volume of 12,600,111. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market cap of $62.07 billion, a price-to-earnings ratio of -42.16, a P/E/G ratio of 1.61 and a beta of 1.42. The stock has a 50 day moving average price of $98.21 and a 200-day moving average price of $93.87.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company's stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MRVL. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Morgan Stanley dropped their target price on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald boosted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Benchmark reaffirmed a "buy" rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Summit Insights downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average price target of $120.44.

Marvell Technology Company 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.