Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 66.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,000 shares of the semiconductor company’s stock after acquiring an additional 50,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Marvell Technology were worth $13,806,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors boosted its position in Marvell Technology by 3.5% during the 3rd quarter. Captrust Financial Advisors now owns 37,040 shares of the semiconductor company’s stock valued at $2,671,000 after purchasing an additional 1,260 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Marvell Technology by 1,231.1% during the third quarter. Benjamin Edwards Inc. now owns 4,499 shares of the semiconductor company’s stock valued at $325,000 after acquiring an additional 4,161 shares during the period. Hilltop Holdings Inc. grew its position in shares of Marvell Technology by 83.7% during the third quarter. Hilltop Holdings Inc. now owns 5,713 shares of the semiconductor company’s stock worth $412,000 after acquiring an additional 2,603 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after acquiring an additional 139 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in Marvell Technology by 4.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 406,079 shares of the semiconductor company’s stock valued at $29,286,000 after purchasing an additional 16,442 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Down 11.2 %

NASDAQ:MRVL opened at $49.43 on Friday. The stock’s 50-day moving average is $87.42 and its two-hundred day moving average is $92.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market cap of $42.81 billion, a PE ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $47.31 and a fifty-two week high of $127.48.

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 $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.49%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MRVL. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Piper Sandler decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Needham & Company LLC cut their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,185 shares of company stock valued at $3,744,268 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.