GF Fund Management CO. LTD. Acquires New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

GF Fund Management CO. LTD. purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 242,464 shares of the semiconductor company's stock, valued at approximately $26,780,000.

Other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its holdings in shares of Marvell Technology by 52.3% in the 4th quarter. Sunbelt Securities Inc. now owns 4,131 shares of the semiconductor company's stock worth $461,000 after purchasing an additional 1,419 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $89,000. Breed s Hill Capital LLC acquired a new position in Marvell Technology in the fourth quarter worth approximately $222,000. Vise Technologies Inc. increased its holdings in shares of Marvell Technology by 64.7% in the fourth quarter. Vise Technologies Inc. now owns 6,593 shares of the semiconductor company's stock valued at $728,000 after buying an additional 2,590 shares in the last quarter. Finally, Cornerstone Advisory LLC acquired a new stake in shares of Marvell Technology during the 4th quarter valued at $291,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MRVL shares. Barclays cut their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Citigroup cut their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Needham & Company LLC decreased their target price 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. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus reduced their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.22.

Marvell Technology Stock Up 4.9%

NASDAQ MRVL traded up $2.99 during trading on Tuesday, hitting $63.68. 20,703,927 shares of the company traded hands, compared to its average volume of 17,338,559. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The business has a fifty day simple moving average of $59.39 and a 200 day simple moving average of $87.61. The company has a market capitalization of $55.01 billion, a P/E ratio of -37.46, a PEG 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 business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 626 shares of Marvell Technology stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president now directly owns 626 shares in the company, valued at approximately $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This trade represents a 3.57% increase in their position. The disclosure for this purchase can be found here. Insiders sold 33,541 shares of company stock valued at $2,079,948 over the last 90 days. 0.19% of the stock is currently owned by company 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.