Asset Management One Co. Ltd. Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Asset Management One Co. Ltd. lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,534 shares of the semiconductor company’s stock after buying an additional 1,301 shares during the period. Asset Management One Co. Ltd.’s holdings in Marvell Technology were worth $36,987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hudock Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $265,000. Hemington Wealth Management grew its holdings in shares of Marvell Technology by 122.0% in the 4th quarter. Hemington Wealth Management now owns 768 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 422 shares during the period. Marks Group Wealth Management Inc acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $288,000. Gladstone Institutional Advisory LLC grew its holdings in shares of Marvell Technology by 1.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 18,844 shares of the semiconductor company’s stock worth $2,081,000 after acquiring an additional 195 shares during the period. Finally, Schear Investment Advisers LLC grew its holdings in shares of Marvell Technology by 5.6% in the 4th quarter. Schear Investment Advisers LLC now owns 28,027 shares of the semiconductor company’s stock worth $3,096,000 after acquiring an additional 1,495 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.9 %

Shares of MRVL opened at $106.51 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $92.16 billion, a P/E ratio of -62.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The stock’s fifty day simple moving average is $113.94 and its 200 day simple moving average is $90.43. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock valued at $3,692,880 over the last three months. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MRVL shares. Rosenblatt Securities upped their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays increased their target price on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, UBS Group increased their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.