Janus Henderson Group PLC Has $1.46 Billion Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Janus Henderson Group PLC raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.9% in the fourth quarter, Holdings Channel reports. The fund owned 13,239,154 shares of the semiconductor company’s stock after acquiring an additional 857,087 shares during the period. Marvell Technology comprises approximately 0.7% of Janus Henderson Group PLC’s holdings, making the stock its 14th biggest position. Janus Henderson Group PLC’s holdings in Marvell Technology were worth $1,462,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC lifted its holdings 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 purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of several research analyst reports. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Bank of America lowered their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.30.

Insider Buying and Selling

In other news, Director Brad W. Buss bought 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,890 shares of company stock valued at $2,027,938. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $59.65 on Friday. 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 52-week low of $47.09 and a 52-week high of $127.48. The business has a 50 day simple moving average of $61.19 and a 200 day simple moving average of $89.34. The stock has a market cap of $51.53 billion, a price-to-earnings ratio of -35.09, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.40%. 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.