American Century Companies Inc. Has $93.34 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

American Century Companies Inc. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 845,065 shares of the semiconductor company’s stock after acquiring an additional 127,832 shares during the quarter. American Century Companies Inc. owned approximately 0.10% of Marvell Technology worth $93,337,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MRVL. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC lifted 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 purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $72.76 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market capitalization of $63.01 billion, a P/E ratio of -42.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock has a fifty day moving average of $98.21 and a 200-day moving average of $93.87.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Wall Street Analyst Weigh In

Several analysts recently commented on MRVL shares. Bank of America reduced their target price on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Raymond James set a $110.00 target price on Marvell Technology in a research note on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Craig Hallum increased their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.