Mediolanum International Funds Ltd Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Mediolanum International Funds Ltd acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,143 shares of the semiconductor company’s stock, valued at approximately $1,241,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC raised its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Quarry LP bought a new position in Marvell Technology in the second quarter worth about $32,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the fourth quarter worth about $33,000. Finally, Whittier Trust Co. raised its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $112.86 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business’s fifty day moving average is $111.72 and its 200 day moving average is $87.65. The company has a market capitalization of $97.66 billion, a PE ratio of -66.39, a price-to-earnings-growth ratio of 3.51 and a beta of 1.41. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MRVL. Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. TD Cowen raised their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Stifel Nicolaus raised their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.60.

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.