222,373 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 222,373 shares of the semiconductor company’s stock, valued at approximately $24,561,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC increased its holdings in shares of Marvell Technology by 57.5% in the fourth quarter. Merit Financial Group LLC now owns 9,432 shares of the semiconductor company’s stock valued at $1,042,000 after purchasing an additional 3,443 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in shares of Marvell Technology by 246.2% in the 4th quarter. Ameritas Advisory Services LLC now owns 11,431 shares of the semiconductor company’s stock valued at $1,263,000 after buying an additional 8,129 shares during the period. Diversify Advisory Services LLC increased its stake in shares of Marvell Technology by 16.8% in the 4th quarter. Diversify Advisory Services LLC now owns 3,743 shares of the semiconductor company’s stock valued at $428,000 after buying an additional 538 shares during the period. Ballentine Partners LLC raised its position in shares of Marvell Technology by 7.3% during the fourth quarter. Ballentine Partners LLC now owns 6,470 shares of the semiconductor company’s stock worth $715,000 after acquiring an additional 439 shares during the last quarter. Finally, Enclave Advisors LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at $304,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction on 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 transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the transaction, the chief operating officer now directly owns 81,931 shares in the company, valued at $5,639,310.73. The trade was a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,541 shares of company stock worth $2,079,948. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Piper Sandler lowered their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Benchmark cut their price target on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.69.

Marvell Technology Stock Down 2.1%

NASDAQ:MRVL opened at $60.11 on Thursday. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The firm has a market capitalization of $51.92 billion, a price-to-earnings ratio of -35.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $59.90 and its two-hundred day moving average price is $88.24.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Marvell Technology Company 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.