Patton Albertson Miller Group LLC grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,500 shares of the semiconductor company’s stock after buying an additional 120 shares during the period. Patton Albertson Miller Group LLC’s holdings in Marvell Technology were worth $828,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Temasek Holdings Private Ltd grew its holdings in shares of Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Marvell Technology during the 3rd quarter valued at $120,116,000. Van ECK Associates Corp lifted its holdings in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Perpetual Ltd grew its position in Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after acquiring an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake 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 acquiring an additional 571,005 shares during the last quarter. 83.51% of the stock is 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 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 value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Read Our Latest Report on Marvell Technology
Marvell Technology Stock Performance
Shares of MRVL opened at $124.02 on Friday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a 50-day simple moving average of $110.11 and a two-hundred day simple moving average of $86.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $107.31 billion, a PE ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.
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.
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