Griffith & Werner Inc. Buys Shares of 16,922 Marvell Technology, Inc. (NASDAQ:MRVL)

Griffith & Werner Inc. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,922 shares of the semiconductor company's stock, valued at approximately $1,869,000. Marvell Technology comprises 1.2% of Griffith & Werner Inc.'s holdings, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Marvell Technology in the fourth quarter worth $1,138,354,000. GQG Partners LLC bought a new stake in Marvell Technology in the fourth quarter worth $802,410,000. Nuveen Asset Management LLC increased its position in Marvell Technology by 232.2% in the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after purchasing an additional 6,543,132 shares during the last quarter. Wellington Management Group LLP increased its position in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares during the last quarter. Finally, Invesco Ltd. increased its position in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology 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 transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,541 shares of company stock worth $2,079,948. Corporate insiders own 0.19% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $1.16 during midday trading on Friday, reaching $60.69. 17,433,643 shares of the company's stock traded hands, compared to its average volume of 14,195,952. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The company has a market cap of $52.43 billion, a P/E ratio of -35.70, a PEG ratio of 1.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a fifty day simple moving average of $59.58 and a two-hundred day simple moving average of $87.84.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.40%. Marvell Technology's payout ratio is currently -23.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MRVL shares. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research 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 research note on Thursday, March 6th. Barclays dropped their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Cantor Fitzgerald lowered shares of Marvell Technology from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $125.00 to $60.00 in a research note on Wednesday, May 7th. Finally, KeyCorp dropped 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. Six investment 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. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $104.52.

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.