17,070 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel reports. The institutional investor bought 17,070 shares of the semiconductor company’s stock, valued at approximately $1,885,000.

Several other hedge funds also recently bought and sold shares of MRVL. Intrepid Financial Planning Group LLC raised its stake in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc boosted its holdings in Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC grew its position in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after acquiring an additional 93 shares during the period. Valley National Advisers Inc. increased its position in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA raised its stake 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 valued at $414,000 after acquiring an additional 97 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,685 shares of company stock valued at $4,026,768. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 1.8 %

Marvell Technology stock opened at $62.67 on Wednesday. The firm has a market cap of $54.28 billion, a P/E ratio of -36.86, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $91.56 and a two-hundred day moving average of $93.58. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Bank of America cut their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Cantor Fitzgerald boosted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Three 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.