Hardman Johnston Global Advisors LLC Grows Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Hardman Johnston Global Advisors LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 38.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,410 shares of the semiconductor company’s stock after acquiring an additional 29,950 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Marvell Technology were worth $11,863,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zweig DiMenna Associates LLC boosted its holdings in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $637,000. RFG Advisory LLC boosted its holdings in 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 acquiring an additional 2,507 shares during the period. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology during the 3rd quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Citigroup raised their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Price Performance

Shares of MRVL opened at $103.85 on Monday. The firm has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The stock’s fifty day moving average is $113.59 and its 200-day moving average is $92.50.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) 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.