785,896 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Situational Awareness LP

Situational Awareness LP bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 785,896 shares of the semiconductor company’s stock, valued at approximately $86,802,000. Marvell Technology accounts for 34.1% of Situational Awareness LP’s holdings, making the stock its largest holding. Situational Awareness LP owned approximately 0.09% of Marvell Technology as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Zweig DiMenna Associates LLC grew its stake in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology in the fourth quarter worth approximately $637,000. RFG Advisory LLC boosted its position in Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after buying an additional 535,203 shares during the last quarter. Finally, Franchise Capital Ltd acquired a new position in shares of Marvell Technology during the 4th quarter valued at about $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MRVL shares. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Raymond James set a $110.00 target price on Marvell Technology in a research note on Thursday, March 6th. UBS Group increased their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Citigroup reduced their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report 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 issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 1.5 %

Shares of NASDAQ:MRVL opened at $71.67 on Wednesday. The business’s fifty day simple moving average is $97.34 and its 200-day simple moving average is $93.91. 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, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a market capitalization of $62.07 billion, a PE ratio of -42.16, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 over the last quarter. Insiders own 0.33% of the company’s stock.

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.