Generate Investment Management Ltd Acquires New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Generate Investment Management Ltd bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 159,226 shares of the semiconductor company’s stock, valued at approximately $17,587,000. Marvell Technology comprises about 1.2% of Generate Investment Management Ltd’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also bought and sold shares of MRVL. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. Financial Life Planners acquired a new stake in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, Whittier Trust Co. raised its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Performance

MRVL opened at $119.24 on Friday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market capitalization of $103.18 billion, a PE ratio of -70.14, a PEG ratio of 3.71 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $113.59 and its 200 day moving average price is $88.68.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analysts Set New Price Targets

Several equities research analysts have commented on MRVL shares. 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 on the stock. Piper Sandler restated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

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.