Van ECK Associates Corp Has $795.65 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Van ECK Associates Corp lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,203,754 shares of the semiconductor company's stock after selling 268,069 shares during the quarter. Marvell Technology comprises about 1.0% of Van ECK Associates Corp's investment portfolio, making the stock its 21st biggest position. Van ECK Associates Corp owned about 0.83% of Marvell Technology worth $795,654,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Financial Life Planners acquired a new position in Marvell Technology during the 4th quarter worth $33,000. GHP Investment Advisors Inc. increased its stake in Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 112 shares during the period. Finally, True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 326 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MRVL. Benchmark reaffirmed a "buy" rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Morgan Stanley cut their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Bank of America upped their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average price target of $127.60.

Marvell Technology Price Performance

MRVL traded up $3.01 during trading on Friday, reaching $106.51. 13,532,440 shares of the stock were exchanged, compared to its average volume of 13,070,750. The business's 50 day moving average price is $113.94 and its two-hundred day moving average price is $90.62. The company has a quick ratio of 1.11, a current ratio of 1.60 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.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Marvell Technology's dividend payout ratio (DPR) is -14.12%.

Insider Activity at Marvell Technology

In other news, 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 transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is currently owned by insiders.

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.