Talos Asset Management LP Acquires Shares of 582,588 Marvell Technology, Inc. (NASDAQ:MRVL)

Talos Asset Management LP acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 582,588 shares of the semiconductor company's stock, valued at approximately $64,347,000. Marvell Technology comprises about 15.2% of Talos Asset Management LP's portfolio, making the stock its biggest position. Talos Asset Management LP owned about 0.07% of Marvell Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB raised its holdings in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company's stock worth $170,037,000 after buying an additional 23,680 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Marvell Technology by 36.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,314 shares of the semiconductor company's stock valued at $527,000 after purchasing an additional 1,954 shares during the period. Banque Cantonale Vaudoise grew its holdings in shares of Marvell Technology by 2.9% in the third quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company's stock worth $3,043,000 after purchasing an additional 1,184 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Marvell Technology in the 3rd quarter worth about $6,466,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Marvell Technology by 1.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company's stock valued at $5,177,000 after buying an additional 1,062 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research reports. Cantor Fitzgerald raised their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Stifel Nicolaus decreased their target price on Marvell Technology from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $120.44.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $0.10 on Friday, hitting $70.39. 11,931,502 shares of the company were exchanged, compared to its average volume of 12,606,196. The firm has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The stock's 50 day moving average price is $99.06 and its 200 day moving average price is $93.69.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology's dividend payout ratio is currently -23.53%.

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.