Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 64.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,077,226 shares of the semiconductor company’s stock after acquiring an additional 421,349 shares during the quarter. Sei Investments Co. owned about 0.12% of Marvell Technology worth $118,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in Marvell Technology by 17.8% during the 4th quarter. American Century Companies Inc. now owns 845,065 shares of the semiconductor company’s stock worth $93,337,000 after acquiring an additional 127,832 shares during the period. Sciencast Management LP acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $1,914,000. ZEGA Investments LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $352,000. Mindset Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $230,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $451,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.1 %

Shares of MRVL opened at $70.39 on Friday. The stock’s 50-day moving average is $99.06 and its two-hundred day moving average is $93.69. The stock has a market cap of $60.96 billion, a PE ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MRVL shares. Melius started coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Stifel Nicolaus reduced their price target on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Susquehanna lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Finally, KeyCorp reduced their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.