Ring Mountain Capital LLC Acquires Shares of 22,015 Marvell Technology, Inc. (NASDAQ:MRVL)

Ring Mountain Capital LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,015 shares of the semiconductor company’s stock, valued at approximately $2,432,000. Marvell Technology accounts for 1.6% of Ring Mountain Capital LLC’s portfolio, making the stock its 16th biggest position.

A number of other institutional investors have also made changes to their positions in MRVL. Swedbank AB raised its holdings in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the last quarter. Stephens Inc. AR increased its position in Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 1,175 shares during the period. Janney Montgomery Scott LLC increased its position in Marvell Technology by 3.2% in the third quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock worth $8,873,000 after purchasing an additional 3,855 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Marvell Technology by 83.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock worth $10,241,000 after purchasing an additional 64,465 shares during the period. Finally, Silicon Valley Capital Partners increased its position in Marvell Technology by 254.6% in the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after purchasing an additional 23,678 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America lifted their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. B. Riley upped their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Down 6.5 %

NASDAQ MRVL opened at $85.83 on Tuesday. The company has a market cap of $74.27 billion, a PE ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a 50 day moving average of $111.63 and a 200-day moving average of $93.59.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

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.