27,868 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Select Equity Group L.P.

Select Equity Group L.P. purchased 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 fund purchased 27,868 shares of the semiconductor company's stock, valued at approximately $3,078,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRVL. Southport Management L.L.C. bought a new stake in Marvell Technology during the 4th quarter valued at $718,000. Raiffeisen Bank International AG bought a new position in shares of Marvell Technology in the 4th quarter worth about $13,580,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Marvell Technology during the 4th quarter valued at about $234,000. Rivermont Capital Management LP purchased a new stake in Marvell Technology during the 4th quarter valued at about $12,588,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Marvell Technology during the 4th quarter valued at about $166,767,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In related news, Director Brad W. Buss acquired 3,000 shares of the business's stock in a transaction dated 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 directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by insiders.

Marvell Technology Trading Down 1.8%

Shares of MRVL traded down $1.14 during trading hours on Tuesday, reaching $61.42. 22,305,527 shares of the company traded hands, compared to its average volume of 14,107,838. The firm has a market cap of $53.06 billion, a price-to-earnings ratio of -36.13, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock's fifty day moving average price is $60.22 and its 200 day moving average price is $88.63.

Marvell Technology Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler dropped their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Thursday, March 6th. UBS Group lowered their price objective on shares of Marvell Technology from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday. Rosenblatt Securities restated a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.69.

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.