Ariose Capital Management Ltd Takes $2.02 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Ariose Capital Management Ltd acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,300 shares of the semiconductor company’s stock, valued at approximately $2,021,000. Marvell Technology accounts for approximately 1.7% of Ariose Capital Management Ltd’s portfolio, making the stock its 9th largest position.

Several other large investors have also recently bought and sold shares of the business. Oak Ridge Investments LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth $419,000. Aaron Wealth Advisors LLC purchased a new stake in Marvell Technology during the fourth quarter worth about $322,000. Moss Adams Wealth Advisors LLC grew its position in Marvell Technology by 83.8% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 6,775 shares of the semiconductor company’s stock worth $748,000 after buying an additional 3,089 shares during the period. Smith Salley Wealth Management increased its holdings in Marvell Technology by 5.6% in the fourth quarter. Smith Salley Wealth Management now owns 176,578 shares of the semiconductor company’s stock valued at $19,503,000 after buying an additional 9,438 shares in the last quarter. Finally, Jackson Square Capital LLC lifted its position in shares of Marvell Technology by 726.8% during the 4th quarter. Jackson Square Capital LLC now owns 31,484 shares of the semiconductor company’s stock valued at $3,477,000 after acquiring an additional 27,676 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MRVL. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Needham & Company LLC raised their price target on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Craig Hallum raised their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.96.

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 Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,755 shares of company stock worth $3,615,030 in the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Up 6.1 %

Shares of NASDAQ MRVL opened at $124.76 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $107.95 billion, a PE ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. The firm has a fifty day moving average of $106.70 and a 200-day moving average of $84.64. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.19%. Marvell Technology’s dividend payout ratio is presently -14.12%.

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.