Bellwether Advisors LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Bellwether Advisors LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 39,414 shares of the semiconductor company's stock, valued at approximately $4,353,000. Marvell Technology comprises about 0.8% of Bellwether Advisors LLC's investment portfolio, making the stock its 26th largest holding.

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Marvell Technology by 43.1% during the 4th 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. Geode Capital Management LLC grew its position in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the period. Norges Bank acquired a new stake in shares of Marvell Technology during the 4th quarter valued at about $1,138,354,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Marvell Technology by 28.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock valued at $838,617,000 after acquiring an additional 1,691,242 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 0.5 %

Shares of NASDAQ:MRVL traded down $0.31 during trading on Wednesday, hitting $58.37. The company's stock had a trading volume of 14,264,425 shares, compared to its average volume of 13,656,994. The business has a 50 day moving average price of $65.58 and a two-hundred day moving average price of $90.28. The company has a market capitalization of $50.55 billion, a PE ratio of -34.34, a P/E/G ratio of 1.61 and a beta of 1.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. 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 firm also recently declared 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. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Insiders Place Their Bets

In other Marvell Technology 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,390 shares of company stock worth $1,937,938 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Summit Insights cut Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. Finally, Needham & Company LLC lowered their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus 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.