Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 357.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,807 shares of the semiconductor company’s stock after acquiring an additional 30,323 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Marvell Technology were worth $4,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MRVL. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth $26,000. ORG Partners LLC raised its holdings in shares of 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 buying an additional 149 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $33,000. Financial Life Planners purchased a new position in shares of Marvell Technology during the fourth quarter worth about $33,000. Finally, GHP Investment Advisors Inc. increased its position in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 112 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MRVL. Morgan Stanley decreased their price objective on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday. B. Riley lifted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a report on Thursday. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Stock Down 19.8 %

Shares of NASDAQ:MRVL opened at $72.28 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $62.54 billion, a P/E ratio of -42.52, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The stock’s fifty day simple moving average is $110.00 and its 200-day simple moving average is $93.82.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

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.