Ontario Teachers Pension Plan Board Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Ontario Teachers Pension Plan Board acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,873 shares of the semiconductor company’s stock, valued at approximately $428,000.

Several other institutional investors have also added to or reduced their stakes in the business. ORG Partners LLC lifted its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $27,000. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the fourth quarter valued at $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the topic of several research reports. Benchmark reissued a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Morgan Stanley dropped their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Raymond James set a $110.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Marvell Technology Trading Down 0.4 %

Shares of MRVL stock opened at $51.70 on Friday. The stock’s 50-day moving average price is $74.86 and its 200-day moving average price is $91.36. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of -30.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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 Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction 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 $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,930 shares of company stock worth $1,999,038. 0.33% of the stock is currently owned by insiders.

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.