Candriam S.C.A. Acquires 87,652 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Candriam S.C.A. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 855,368 shares of the semiconductor company’s stock after buying an additional 87,652 shares during the quarter. Candriam S.C.A. owned 0.10% of Marvell Technology worth $94,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew 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 purchasing an additional 326 shares during the period. ORG Partners LLC raised its stake 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 period. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $26,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology during the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 2.0 %

MRVL stock opened at $90.14 on Thursday. The firm’s fifty day moving average is $110.52 and its 200 day moving average is $93.84. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The firm has a market cap of $78.00 billion, a PE ratio of -53.02, a P/E/G ratio of 1.61 and a beta of 1.40. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Ratings Changes

MRVL has been the topic of several recent analyst reports. Susquehanna upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. KeyCorp raised their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Evercore ISI raised their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three equities 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. According to MarketBeat.com, the company 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.