Invesco Ltd. Acquires 3,737,705 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Invesco Ltd. increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 30.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,157,979 shares of the semiconductor company’s stock after purchasing an additional 3,737,705 shares during the period. Invesco Ltd. owned 1.87% of Marvell Technology worth $1,784,649,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at $27,000. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology in the 4th quarter worth about $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 11.2 %

Shares of MRVL stock opened at $49.43 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $46.50 and a twelve month high of $127.48. The stock has a 50 day moving average of $87.42 and a 200 day moving average of $93.23. The stock has a market cap of $42.81 billion, a P/E ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MRVL shares. Citigroup reduced their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. KeyCorp reduced their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, TD Cowen reduced their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,185 shares of company stock worth $3,131,018 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology 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.