Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Increased by Waterfront Wealth Inc.

Waterfront Wealth Inc. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,592 shares of the semiconductor company’s stock after buying an additional 116 shares during the quarter. Waterfront Wealth Inc.’s holdings in Marvell Technology were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVL. State Street Corp grew its position in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP boosted its holdings in Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Van ECK Associates Corp boosted its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of MRVL stock opened at $108.66 on Friday. 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 stock has a 50 day moving average price of $113.93 and a 200 day moving average price of $91.69. The firm has a market capitalization of $94.03 billion, a P/E ratio of -63.92, a P/E/G ratio of 1.64 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. KeyCorp lifted their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Stifel Nicolaus boosted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC lifted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling

In other news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last ninety days. 0.33% of the stock is owned by insiders.

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.