Allianz SE Makes New $11.72 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Allianz SE bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 104,960 shares of the semiconductor company’s stock, valued at approximately $11,720,000.

A number of other large investors also recently made changes to their positions in MRVL. Norges Bank bought a new stake in Marvell Technology during the fourth quarter worth $1,138,354,000. GQG Partners LLC bought a new position in shares of Marvell Technology during the 4th quarter worth $802,410,000. Raymond James Financial Inc. purchased a new stake in Marvell Technology in the 4th quarter worth about $366,896,000. Artisan Partners Limited Partnership raised its stake in Marvell Technology by 98.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock valued at $452,936,000 after acquiring an additional 2,034,353 shares during the period. Finally, Temasek Holdings Private Ltd boosted its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares during the period. 83.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of analyst reports. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Oppenheimer increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Citigroup decreased their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,685 shares of company stock valued at $4,026,768. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 4.3 %

NASDAQ MRVL opened at $62.04 on Friday. 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 52 week low of $53.19 and a 52 week high of $127.48. The company has a market capitalization of $53.73 billion, a P/E ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock’s 50-day moving average price is $94.05 and its 200-day moving average price is $93.47.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s payout ratio is -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.