Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 581.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,240,085 shares of the semiconductor company's stock after acquiring an additional 1,911,532 shares during the period. Marvell Technology makes up about 0.7% of Temasek Holdings Private Ltd's portfolio, making the stock its 27th biggest holding. Temasek Holdings Private Ltd owned approximately 0.25% of Marvell Technology worth $161,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after buying an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the second quarter worth $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Whittier Trust Co. boosted its position in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Finally, Briaud Financial Planning Inc purchased a new position in Marvell Technology in the 3rd quarter valued at about $43,000. Institutional investors own 83.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MRVL shares. KeyCorp boosted their target price on Marvell Technology from $95.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley boosted their price target on Marvell Technology from $82.00 to $102.00 and gave the company an "equal weight" rating in a report on Wednesday. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Piper Sandler reissued an "overweight" rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $119.04.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares of the company's stock, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company's stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock valued at $20,899,260 in the last three months. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Trading Up 0.7 %

NASDAQ:MRVL traded up $0.84 on Friday, reaching $114.21. 7,544,831 shares of the company's stock were exchanged, compared to its average volume of 12,292,441. Marvell Technology, Inc. has a 52-week low of $50.56 and a 52-week high of $119.88. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $101.21 billion, a price-to-earnings ratio of -66.69, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. The business has a fifty day moving average of $85.24 and a 200-day moving average of $75.30.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

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.