Ion Asset Management Ltd. Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Ion Asset Management Ltd. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,500 shares of the semiconductor company’s stock after purchasing an additional 1,000 shares during the period. Ion Asset Management Ltd.’s holdings in Marvell Technology were worth $939,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. ORG Partners LLC grew 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 worth $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays cut their price objective on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Raymond James set a $110.00 price target on Marvell Technology in a research report on Thursday, March 6th. TD Cowen decreased their price objective on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, William Blair upgraded Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three equities research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.56.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $58.70 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 has a market cap of $50.84 billion, a PE ratio of -34.53, a P/E/G ratio of 1.61 and a beta of 1.78. The company’s fifty day simple moving average is $67.49 and its 200-day simple moving average is $90.73. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 27,390 shares of company stock worth $1,937,938 in the last 90 days. 0.33% of the stock is owned by company 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.