74,400 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 74,400 shares of the semiconductor company’s stock, valued at approximately $8,217,000. Marvell Technology accounts for about 3.0% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in MRVL. Raymond James Financial Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $366,896,000. Temasek Holdings Private Ltd raised its holdings in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Marvell Technology during the third quarter worth about $120,116,000. Perpetual Ltd grew its holdings in shares of Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in 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 acquiring an additional 571,005 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $67.16 on Wednesday. The stock has a market capitalization of $58.11 billion, a price-to-earnings ratio of -39.51, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The business has a 50-day moving average of $107.36 and a 200-day moving average of $93.97.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Transactions at Marvell Technology

In related news, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a legal 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 that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler lowered their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, UBS Group boosted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.44.

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.