Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 23.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,778 shares of the semiconductor company’s stock after buying an additional 7,019 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Marvell Technology were worth $4,062,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its holdings in Marvell Technology by 150.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,494,622 shares of the semiconductor company’s stock worth $176,709,000 after buying an additional 897,839 shares during the period. California Public Employees Retirement System increased its stake in shares of Marvell Technology by 31.3% in the fourth quarter. California Public Employees Retirement System now owns 1,869,352 shares of the semiconductor company’s stock worth $206,470,000 after acquiring an additional 445,765 shares during the period. RWA Wealth Partners LLC lifted its position in Marvell Technology by 15.0% during the fourth quarter. RWA Wealth Partners LLC now owns 12,147 shares of the semiconductor company’s stock valued at $1,342,000 after purchasing an additional 1,580 shares during the period. Varenne Capital Partners purchased a new stake in Marvell Technology in the fourth quarter valued at $582,000. Finally, Schroder Investment Management Group raised its stake in shares of Marvell Technology by 58.7% during the 4th quarter. Schroder Investment Management Group now owns 698,996 shares of the semiconductor company’s stock valued at $77,204,000 after buying an additional 258,533 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Piper Sandler cut their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock Up 0.9 %

Shares of NASDAQ:MRVL opened at $63.23 on Thursday. The firm has a market capitalization of $54.76 billion, a PE ratio of -37.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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’s 50-day moving average is $90.32 and its two-hundred day moving average is $93.37.

Marvell Technology Announces Dividend

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 given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insider Activity

In related news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 35,185 shares of company stock worth $3,744,268. Corporate insiders own 0.33% of the company’s stock.

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.