Prudential PLC Buys 5,214 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Prudential PLC grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 149,624 shares of the semiconductor company’s stock after buying an additional 5,214 shares during the period. Prudential PLC’s holdings in Marvell Technology were worth $16,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Thoroughbred Financial Services LLC increased its stake in Marvell Technology by 2.2% during the fourth quarter. Thoroughbred Financial Services LLC now owns 12,304 shares of the semiconductor company’s stock valued at $1,359,000 after acquiring an additional 260 shares during the period. Pitcairn Co. increased its position in shares of Marvell Technology by 14.0% during the fourth quarter. Pitcairn Co. now owns 59,665 shares of the semiconductor company’s stock valued at $6,590,000 after purchasing an additional 7,308 shares during the period. World Investment Advisors raised its stake in shares of Marvell Technology by 10.4% in the fourth quarter. World Investment Advisors now owns 44,574 shares of the semiconductor company’s stock valued at $4,923,000 after purchasing an additional 4,208 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in Marvell Technology by 3.1% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 118 shares during the period. Finally, Ardmore Road Asset Management LP boosted its stake in Marvell Technology by 20.0% during the fourth quarter. Ardmore Road Asset Management LP now owns 300,000 shares of the semiconductor company’s stock worth $33,135,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MRVL shares. Bank of America reduced their price objective on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Citigroup dropped their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, March 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, The Goldman Sachs Group increased their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’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 owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,185 shares of company stock worth $3,744,268. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Shares of MRVL stock opened at $55.64 on Friday. The firm’s 50 day moving average price is $88.91 and its two-hundred day moving average price is $93.11. 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 $53.19 and a 52-week high of $127.48. The stock has a market cap of $48.19 billion, a PE ratio of -32.73, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.43%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

About Marvell Technology

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.