13,334 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Semanteon Capital Management LP

Semanteon Capital Management LP bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,334 shares of the semiconductor company's stock, valued at approximately $1,473,000. Marvell Technology comprises approximately 0.8% of Semanteon Capital Management LP's portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRVL. Raymond James Financial Inc. bought a new position in shares of Marvell Technology during the 4th quarter worth $366,896,000. Temasek Holdings Private Ltd lifted its holdings 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 during the last quarter. Holocene Advisors LP bought a new position in Marvell Technology during the third quarter worth about $120,116,000. Perpetual Ltd increased its stake in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company's stock worth $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Finally, Talos Asset Management LP bought a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $64,347,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 3.4 %

Shares of MRVL traded up $2.37 during mid-day trading on Monday, reaching $72.76. The company's stock had a trading volume of 12,177,019 shares, compared to its average volume of 12,604,488. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market cap of $63.01 billion, a PE ratio of -42.80, a P/E/G ratio of 1.61 and a beta of 1.42. The company's fifty day moving average price is $99.06 and its two-hundred day moving average price is $93.85. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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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 paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MRVL shares. Benchmark reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Barclays decreased their price objective on Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Bank of America cut their target price on Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Finally, Summit Insights lowered 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.44.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last ninety days. 0.33% of the stock is owned by insiders.

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.