Mizuho Bank Ltd. Makes New $50,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Mizuho Bank Ltd. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 450 shares of the semiconductor company’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Norges Bank acquired a new position in Marvell Technology in the fourth quarter valued at approximately $1,138,354,000. GQG Partners LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $802,410,000. Wellington Management Group LLP lifted its position in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Raymond James Financial Inc. bought a new position in Marvell Technology during the fourth quarter worth $366,896,000. Finally, Artisan Partners Limited Partnership grew its holdings in Marvell Technology by 98.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock worth $452,936,000 after purchasing an additional 2,034,353 shares during the period. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Citigroup dropped their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reduced their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Down 11.2 %

Marvell Technology stock opened at $49.43 on Friday. The firm has a 50 day moving average price of $87.42 and a 200-day moving average price of $92.94. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $47.31 and a twelve month high of $127.48. The company has a market capitalization of $42.81 billion, a P/E ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 0.49%. Marvell Technology’s payout ratio is -23.53%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,185 shares of company stock worth $3,744,268 over the last quarter. Corporate 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.