Quantinno Capital Management LP Buys 15,968 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Quantinno Capital Management LP lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 44.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,048 shares of the semiconductor company’s stock after purchasing an additional 15,968 shares during the quarter. Quantinno Capital Management LP’s holdings in Marvell Technology were worth $3,754,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Quarry LP grew its holdings in Marvell Technology by 412.5% during the 3rd quarter. Quarry LP now owns 2,378 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 1,914 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Marvell Technology by 4.2% in the third quarter. Royal London Asset Management Ltd. now owns 406,079 shares of the semiconductor company’s stock valued at $29,286,000 after purchasing an additional 16,442 shares in the last quarter. Point72 Italy S.r.l. bought a new stake in Marvell Technology in the third quarter worth $1,976,000. Polymer Capital Management HK LTD purchased a new stake in Marvell Technology during the third quarter valued at $447,000. Finally, Needham Investment Management LLC lifted its position in Marvell Technology by 13.8% during the third quarter. Needham Investment Management LLC now owns 70,000 shares of the semiconductor company’s stock valued at $5,048,000 after purchasing an additional 8,500 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,000 shares of company stock valued at $20,899,260. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL stock opened at $113.51 on Monday. The stock has a market capitalization of $98.22 billion, a price-to-earnings ratio of -66.77, a P/E/G ratio of 5.11 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a twelve month low of $50.56 and a twelve month high of $119.88. The stock has a fifty day simple moving average of $86.09 and a two-hundred day simple moving average of $75.60.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date was Friday, October 11th. Marvell Technology’s payout ratio is -14.12%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI upped their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $125.00 target price (up previously from $114.00) on shares of Marvell Technology in a report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. Finally, Rosenblatt Securities raised their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the 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.

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.