Perpetual Ltd Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Perpetual Ltd boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3,405.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 702,498 shares of the semiconductor company’s stock after buying an additional 682,457 shares during the period. Perpetual Ltd’s holdings in Marvell Technology were worth $77,591,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Davidson Kempner Capital Management LP grew its position in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology during the 3rd quarter valued at approximately $16,435,000. Charles Schwab Investment Management Inc. raised its position in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new position in shares of Marvell Technology in the fourth quarter worth $1,476,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $124.76 on Tuesday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. 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 business’s 50 day moving average price is $107.35 and its 200-day moving average price is $85.01.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Loop Capital raised their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC lifted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.96.

Insider Activity

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,755 shares of company stock valued at $3,615,030. 0.33% of the stock is currently owned by company 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.