Sava Infond d.o.o. Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Sava Infond d.o.o. purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 61,000 shares of the semiconductor company’s stock, valued at approximately $6,737,000. Marvell Technology accounts for approximately 1.2% of Sava Infond d.o.o.’s portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVL. GQG Partners LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $802,410,000. Raymond James Financial Inc. purchased a new position in Marvell Technology during the fourth quarter valued at $366,896,000. Artisan Partners Limited Partnership raised its stake in Marvell Technology by 98.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock valued at $452,936,000 after buying an additional 2,034,353 shares during the last quarter. Temasek Holdings Private Ltd boosted its holdings in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Marvell Technology during the third quarter valued at $120,116,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 6.9 %

NASDAQ MRVL opened at $66.76 on Thursday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of -39.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company’s 50-day simple moving average is $96.36 and its two-hundred day simple moving average is $93.72.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was 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 approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Needham & Company LLC decreased their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Barclays reduced their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Citigroup dropped their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, KeyCorp dropped their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

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.