Mariner LLC Raises Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Mariner LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 113,446 shares of the semiconductor company’s stock after buying an additional 6,471 shares during the period. Mariner LLC’s holdings in Marvell Technology were worth $12,530,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter worth about $26,000. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $51.70 on Friday. The firm has a 50-day simple moving average of $74.86 and a two-hundred day simple moving average of $91.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The stock has a market cap of $44.78 billion, a PE ratio of -30.41, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MRVL shares. Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. KeyCorp reduced their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, March 6th. Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. Finally, Needham & Company LLC reduced their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Insider Transactions at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,930 shares of company stock worth $1,999,038 over the last ninety days. Company insiders own 0.33% of the company’s stock.

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.