Marvell Technology, Inc. (NASDAQ:MRVL) is Ardmore Road Asset Management LP’s 6th Largest Position

Ardmore Road Asset Management LP boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the semiconductor company’s stock after purchasing an additional 50,000 shares during the quarter. Marvell Technology comprises 4.8% of Ardmore Road Asset Management LP’s portfolio, making the stock its 6th biggest holding. Ardmore Road Asset Management LP’s holdings in Marvell Technology were worth $33,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zweig DiMenna Associates LLC lifted its position in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Marvell Technology in the 4th quarter worth about $637,000. RFG Advisory LLC boosted its holdings in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after acquiring an additional 535,203 shares during the period. Finally, Franchise Capital Ltd purchased a new position in Marvell Technology during the fourth quarter valued at approximately $1,476,000. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 over the last 90 days. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $62.67 on Wednesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock’s fifty day moving average is $91.56 and its two-hundred day moving average is $93.58. The company has a market capitalization of $54.28 billion, a P/E ratio of -36.86, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Analyst Ratings Changes

Several research analysts recently issued reports on MRVL shares. Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. UBS Group upped their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley cut their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.