Deutsche Bank AG Boosts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Deutsche Bank AG boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,987,288 shares of the semiconductor company's stock after purchasing an additional 815,971 shares during the quarter. Deutsche Bank AG owned approximately 0.46% of Marvell Technology worth $440,396,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter valued at about $27,000. Kieckhefer Group LLC purchased a new stake in Marvell Technology during the 4th quarter valued at approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several analyst reports. Needham & Company LLC cut their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Thursday, March 6th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They set a "buy" rating and a $188.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.30.

Marvell Technology Stock Up 2.3 %

MRVL stock opened at $57.63 on Friday. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The stock has a market capitalization of $49.78 billion, a P/E ratio of -33.90, a PEG ratio of 1.61 and a beta of 1.83. The company has a 50 day moving average price of $61.76 and a two-hundred day moving average price of $89.46. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.42%. Marvell Technology's payout ratio is currently -23.53%.

Insiders Place Their Bets

In other news, Director Brad W. Buss acquired 3,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total value 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. In the last ninety days, insiders have sold 28,890 shares of company stock valued at $2,027,938. Insiders own 0.33% of the company's stock.

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.

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