Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,053,133 shares of the semiconductor company’s stock after buying an additional 5,561 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Marvell Technology worth $226,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zweig DiMenna Associates LLC raised its stake in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC raised its position in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares during the period. Braun Stacey Associates Inc. acquired a new position in Marvell Technology in the third quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its position in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after acquiring an additional 66,654 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. Barclays lifted their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Bank of America boosted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $110.62 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. 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 has a market cap of $95.72 billion, a price-to-earnings ratio of -65.07, a PEG ratio of 3.71 and a beta of 1.40. The stock has a 50 day moving average of $113.59 and a 200-day moving average of $88.68.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology’s payout ratio is -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.