Value Star Asset Management Hong Kong Ltd Invests $1.10 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Value Star Asset Management Hong Kong Ltd purchased 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 institutional investor purchased 10,000 shares of the semiconductor company's stock, valued at approximately $1,104,000. Marvell Technology makes up approximately 3.8% of Value Star Asset Management Hong Kong Ltd's investment portfolio, making the stock its 10th largest position.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock valued at $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Geode Capital Management LLC increased its holdings in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock valued at $818,916,000 after buying an additional 219,692 shares in the last quarter. Wellington Management Group LLP increased its holdings in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock valued at $627,034,000 after buying an additional 359,005 shares in the last quarter. Nordea Investment Management AB increased its holdings in Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company's stock valued at $518,435,000 after buying an additional 571,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Marvell Technology by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company's stock valued at $378,594,000 after buying an additional 165,858 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday. Benchmark restated a "buy" rating and set a $135.00 target price on shares of Marvell Technology in a research report on Thursday. Piper Sandler decreased their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Craig Hallum raised their target price 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. Three 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 company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.68.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares of the company's stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now directly owns 87,113 shares in the company, valued at $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. In the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company's stock.

Marvell Technology Trading Down 2.0 %

Shares of MRVL stock traded down $1.44 during mid-day trading on Friday, reaching $70.84. The company's stock had a trading volume of 38,787,463 shares, compared to its average volume of 12,789,017. The company's 50 day simple moving average is $109.13 and its 200-day simple moving average is $93.67. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $61.30 billion, a PE ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's dividend payout ratio is presently -14.12%.

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.