OFI Invest Asset Management Buys New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

OFI Invest Asset Management purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 366,243 shares of the semiconductor company’s stock, valued at approximately $39,065,000. Marvell Technology comprises approximately 0.9% of OFI Invest Asset Management’s investment portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lodestone Wealth Management LLC raised its position in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. grew its stake in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the period. Waldron Private Wealth LLC lifted its stake in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after acquiring an additional 103 shares during the last quarter. Finally, Tsfg LLC boosted its holdings in Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 111 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $70.84 on Friday. The company has a 50 day simple moving average of $108.27 and a two-hundred day simple moving average of $93.84. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brad W. Buss purchased 3,000 shares of the business’s stock in a transaction dated 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 acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. Melius started coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a report on Thursday. Susquehanna increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

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.