GQG Partners LLC Acquires New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

GQG Partners LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,264,921 shares of the semiconductor company’s stock, valued at approximately $802,410,000. Marvell Technology makes up about 1.2% of GQG Partners LLC’s holdings, making the stock its 27th largest holding.

A number of other hedge funds also recently bought and sold shares of MRVL. Zweig DiMenna Associates LLC boosted its holdings in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC grew its holdings in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after purchasing an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new stake in shares of Marvell Technology during the 4th quarter valued at $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on 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 sale, the chief operating officer now directly owns 81,931 shares in the company, valued at $5,639,310.73. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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 Up 3.4 %

MRVL opened at $72.76 on Tuesday. The company has a fifty day moving average of $98.21 and a two-hundred day moving average of $93.87. 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 fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of -42.80, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s payout ratio is -23.53%.

Analyst Ratings Changes

Several brokerages recently issued reports on MRVL. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. TD Cowen cut their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. Finally, Susquehanna lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

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.