Discovery Capital Management LLC CT Makes New $16.40 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Discovery Capital Management LLC CT bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, HoldingsChannel reports. The fund bought 148,500 shares of the semiconductor company’s stock, valued at approximately $16,402,000. Marvell Technology comprises 1.1% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 27th largest holding.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss acquired 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 completion of the purchase, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $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. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 over the last three months. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Down 0.8 %

NASDAQ:MRVL opened at $61.57 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $92.78 and its two-hundred day moving average is $93.66. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a market cap of $53.32 billion, a PE ratio of -36.22, a P/E/G ratio of 1.61 and a beta of 1.42.

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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. KeyCorp dropped their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Cantor Fitzgerald lifted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price 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.