Bain Capital Public Equity Management II LLC Acquires Shares of 350,625 Marvell Technology, Inc. (NASDAQ:MRVL)

Bain Capital Public Equity Management II LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 350,625 shares of the semiconductor company's stock, valued at approximately $38,727,000. Marvell Technology makes up approximately 1.8% of Bain Capital Public Equity Management II LLC's portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Norges Bank bought a new position in shares of Marvell Technology during the 4th quarter worth about $1,138,354,000. GQG Partners LLC bought a new position in Marvell Technology in the fourth quarter worth approximately $802,410,000. Wellington Management Group LLP grew its stake in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Invesco Ltd. increased its holdings in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $366,896,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale 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.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research note on Thursday, March 6th. 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. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Piper Sandler decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $114.56.

Marvell Technology Stock Performance

Shares of MRVL stock traded down $0.35 on Monday, hitting $61.98. 9,090,005 shares of the stock were exchanged, compared to its average volume of 13,693,952. The firm's 50 day moving average is $63.56 and its two-hundred day moving average is $90.05. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The firm has a market capitalization of $53.68 billion, a PE ratio of -36.46, a P/E/G ratio of 1.61 and a beta of 1.83. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

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.