Advanced Portfolio Management LLC Buys Shares of 20,000 Marvell Technology, Inc. (NASDAQ:MRVL)

Advanced Portfolio Management LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,000 shares of the semiconductor company's stock, valued at approximately $2,209,000. Marvell Technology comprises about 2.6% of Advanced Portfolio Management LLC's investment portfolio, making the stock its 15th biggest holding.

Other hedge funds also recently made changes to their positions in the company. World Investment Advisors LLC grew its stake in shares of Marvell Technology by 1.4% during the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company's stock worth $2,911,000 after acquiring an additional 560 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Marvell Technology during the third quarter worth about $3,432,000. Synovus Financial Corp increased its stake in shares of Marvell Technology by 60.5% in the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company's stock worth $468,000 after purchasing an additional 2,445 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Marvell Technology by 27.3% in the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company's stock valued at $1,681,000 after purchasing an additional 5,005 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Marvell Technology by 57.0% in the 4th quarter. Versant Capital Management Inc now owns 970 shares of the semiconductor company's stock worth $107,000 after buying an additional 352 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Morgan Stanley cut their target price on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. KeyCorp cut their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.56.

Marvell Technology Stock Down 0.6 %

Shares of Marvell Technology stock traded down $0.35 during midday trading on Monday, hitting $61.98. The company had a trading volume of 9,090,005 shares, compared to its average volume of 13,693,947. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market capitalization of $53.68 billion, a P/E ratio of -36.46, a P/E/G ratio of 1.61 and a beta of 1.83. The company has a 50 day moving average of $64.22 and a 200 day moving average of $90.18.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the sale, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,890 shares of company stock valued at $2,027,938 in the last quarter. 0.33% of the stock is owned by insiders.

Marvell Technology 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.