Marvell Technology, Inc. (NASDAQ:MRVL) Position Boosted by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,727 shares of the semiconductor company's stock after acquiring an additional 5,727 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Marvell Technology were worth $20,293,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MRVL. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth $26,000. ORG Partners LLC boosted its position in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Rosenblatt Securities reiterated a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC dropped their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Finally, KeyCorp decreased 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 note on Thursday, March 6th. Three investment 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 company's stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.56.

Marvell Technology Price Performance

NASDAQ MRVL traded down $0.35 during trading hours on Monday, reaching $61.98. The company's stock had a trading volume of 9,090,005 shares, compared to its average volume of 13,693,943. The company's 50-day moving average is $64.22 and its two-hundred day moving average is $90.18. The stock has a market cap of $53.68 billion, a PE ratio of -36.46, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two 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.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the completion of the transaction, the chief financial officer now owns 124,348 shares in the company, valued at $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 worth $2,027,938 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

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.