Meiji Yasuda Asset Management Co Ltd. Raises Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,876 shares of the semiconductor company’s stock after purchasing an additional 1,945 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Marvell Technology were worth $1,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Great Valley Advisor Group Inc. grew its holdings in shares of Marvell Technology by 2.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 6,480 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 156 shares during the period. Cerity Partners LLC grew its stake in Marvell Technology by 84.3% in the third quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock worth $4,401,000 after purchasing an additional 27,902 shares during the period. Summit Trail Advisors LLC raised its holdings in Marvell Technology by 6.4% in the third quarter. Summit Trail Advisors LLC now owns 6,178 shares of the semiconductor company’s stock worth $446,000 after purchasing an additional 373 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Marvell Technology during the third quarter valued at $516,000. Finally, D.A. Davidson & CO. boosted its holdings in shares of Marvell Technology by 8.5% during the 3rd quarter. D.A. Davidson & CO. now owns 60,056 shares of the semiconductor company’s stock valued at $4,331,000 after buying an additional 4,718 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. B. Riley lifted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI upped their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Piper Sandler dropped their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Insiders Place Their Bets

In other news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 6.9 %

Shares of Marvell Technology stock opened at $66.76 on Thursday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company’s fifty day simple moving average is $96.36 and its 200-day simple moving average is $93.72. 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 capitalization of $57.82 billion, a PE ratio of -39.27, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

About Marvell Technology

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.