Cache Advisors LLC Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Cache Advisors LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,909 shares of the semiconductor company's stock, valued at approximately $1,205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Zweig DiMenna Associates LLC increased its holdings in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth $637,000. RFG Advisory LLC increased its holdings 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 worth $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Marvell Technology in the 4th quarter worth $234,000. Finally, United Asset Strategies Inc. increased its holdings 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 worth $24,287,000 after purchasing an additional 14,547 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MRVL. Benchmark dropped their price target on Marvell Technology from $135.00 to $95.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities restated a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Susquehanna dropped their price target on Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research note on Tuesday. Summit Insights downgraded Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Barclays dropped their price target on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.22.

Marvell Technology Price Performance

Shares of MRVL stock traded up $3.13 during mid-day trading on Tuesday, hitting $63.82. The company had a trading volume of 25,189,681 shares, compared to its average volume of 14,240,902. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock's 50 day moving average price is $59.39 and its 200-day moving average price is $87.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $55.13 billion, a P/E ratio of -37.54, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Transactions at Marvell Technology

In related news, Director Brad W. Buss bought 3,000 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value 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. This represents a 3.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by corporate insiders.

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.