Elo Mutual Pension Insurance Co Has $8.91 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Elo Mutual Pension Insurance Co lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,706 shares of the semiconductor company’s stock after selling 6,908 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Marvell Technology were worth $8,914,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GQG Partners LLC bought a new position in Marvell Technology during the 4th quarter valued at $802,410,000. Raymond James Financial Inc. purchased a new stake in shares of Marvell Technology in the fourth quarter valued at about $366,896,000. Artisan Partners Limited Partnership lifted its position in shares of Marvell Technology by 98.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock valued at $452,936,000 after purchasing an additional 2,034,353 shares in the last quarter. Temasek Holdings Private Ltd boosted its holdings in 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 during the last quarter. Finally, Holocene Advisors LP bought a new stake in Marvell Technology in the 3rd quarter worth about $120,116,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 in the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $66.76 on Thursday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. 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 company has a market cap of $57.82 billion, a PE ratio of -39.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock has a 50-day moving average price of $96.36 and a 200-day moving average price of $93.72.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Bank of America cut their price objective on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Cantor Fitzgerald boosted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.