Meiji Yasuda Life Insurance Co Invests $607,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Meiji Yasuda Life Insurance Co bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,500 shares of the semiconductor company's stock, valued at approximately $607,000.

Several other large investors also recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC lifted its stake in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after acquiring an additional 12,700 shares in 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 grew 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 in the last quarter. Franchise Capital Ltd acquired a new position in Marvell Technology in the 4th quarter valued at approximately $1,476,000. Finally, United Asset Strategies Inc. lifted its position in Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after buying an additional 14,547 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Insider Activity

In other news, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brad W. Buss acquired 3,000 shares of Marvell Technology 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 purchase, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 28,890 shares of company stock valued at $2,027,938. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MRVL shares. Melius initiated coverage on Marvell Technology in a research report on Monday, January 27th. They issued a "buy" rating and a $188.00 target price on the stock. Stifel Nicolaus cut their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. TD Cowen decreased their target price on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Morgan Stanley cut their price target on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, Benchmark reiterated a "buy" rating and issued a $135.00 price objective on shares of Marvell Technology in a 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 assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus price target of $114.56.

Marvell Technology Price Performance

Shares of MRVL stock traded down $0.76 during trading hours on Tuesday, reaching $61.22. The company's stock had a trading volume of 7,852,746 shares, compared to its average volume of 13,673,749. The firm's 50 day simple moving average is $63.56 and its 200-day simple moving average is $90.05. The company has a market capitalization of $53.02 billion, a price-to-earnings ratio of -36.01, a PEG ratio of 1.61 and a beta of 1.83. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is presently -23.53%.

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.