Taikang Asset Management Hong Kong Co Ltd Invests $3.83 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Taikang Asset Management Hong Kong Co Ltd bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 34,700 shares of the semiconductor company's stock, valued at approximately $3,833,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Great Valley Advisor Group Inc. lifted its stake in Marvell Technology by 2.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 6,480 shares of the semiconductor company's stock valued at $467,000 after acquiring an additional 156 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Marvell Technology by 84.3% during the third quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company's stock valued at $4,401,000 after purchasing an additional 27,902 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Marvell Technology by 6.4% during the third quarter. Summit Trail Advisors LLC now owns 6,178 shares of the semiconductor company's stock worth $446,000 after purchasing an additional 373 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Marvell Technology by 15.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 133,517 shares of the semiconductor company's stock worth $9,629,000 after purchasing an additional 17,415 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Marvell Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,203,310 shares of the semiconductor company's stock valued at $158,903,000 after buying an additional 56,606 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

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Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction 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 transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 over the last 90 days. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Down 4.3 %

NASDAQ:MRVL traded down $2.82 during trading hours on Friday, hitting $62.04. The company had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,629. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a 50-day moving average price of $94.05 and a 200 day moving average price of $93.47. The company has a market capitalization of $53.73 billion, a PE ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MRVL shares. Citigroup reduced their target price on Marvell Technology from $136.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. upped their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. TD Cowen lowered their target price on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Benchmark restated a "buy" rating and set a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Susquehanna lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. Three equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.