Fox Run Management L.L.C. Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Fox Run Management L.L.C. bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,862 shares of the semiconductor company’s stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MRVL. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at approximately $26,000. ORG Partners LLC lifted its holdings 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. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,685 shares of company stock valued at $4,026,768. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 1.5 %

NASDAQ MRVL opened at $71.67 on Wednesday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a 50-day moving average of $97.34 and a 200-day moving average of $93.91. The company has a market cap of $62.07 billion, a P/E ratio of -42.16, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America lowered their target price on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Barclays lowered their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Three equities research 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 data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Company 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.