224,101 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 224,101 shares of the semiconductor company's stock, valued at approximately $24,752,000. Marvell Technology makes up approximately 0.7% of Aquatic Capital Management LLC's investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC raised its holdings 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 valued at $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $637,000. RFG Advisory LLC lifted its stake in shares of Marvell Technology by 6.2% in the 4th 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 shares of Marvell Technology in the 4th quarter valued at about $1,476,000. Finally, United Asset Strategies Inc. lifted its stake in shares of Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after purchasing an additional 14,547 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 2.8 %

Shares of MRVL stock traded down $1.65 during trading on Wednesday, hitting $57.03. 5,345,286 shares of the company were exchanged, compared to its average volume of 13,619,035. 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 firm has a market capitalization of $49.39 billion, a price-to-earnings ratio of -33.55, a P/E/G ratio of 1.61 and a beta of 1.78. The business's 50-day simple moving average is $66.49 and its 200 day simple moving average is $90.50. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 27,390 shares of company stock worth $1,937,938 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America reduced their price objective on Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. KeyCorp dropped their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, William Blair upgraded Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $114.56.

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.