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55,000 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Sphera Management Technology Funds Ltd

Marvell Technology logo with Computer and Technology background

Sphera Management Technology Funds Ltd acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 55,000 shares of the semiconductor company's stock, valued at approximately $6,075,000. Marvell Technology comprises about 3.5% of Sphera Management Technology Funds Ltd's investment portfolio, making the stock its 5th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter worth about $27,000. Financial Life Planners bought a new stake in Marvell Technology during the fourth quarter worth approximately $33,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $35,000. Finally, Capital Analysts LLC boosted its holdings in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 1.9%

MRVL stock traded down $1.17 on Friday, hitting $60.68. 8,497,186 shares of the company's stock were exchanged, compared to its average volume of 14,148,173. The firm has a 50 day moving average price of $59.73 and a two-hundred day moving average price of $88.09. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The stock has a market cap of $52.41 billion, a P/E ratio of -35.60, a price-to-earnings-growth 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.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

Analyst Ratings Changes

Several research firms have commented on MRVL. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Needham & Company LLC lowered 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. Summit Insights downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Barclays reduced their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group decreased their price objective on shares of Marvell Technology from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Monday. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.52.

Get Our Latest Report on Marvell Technology

Insider Activity at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $2,138,125. This represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brad W. Buss acquired 3,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company's stock, valued at approximately $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 in the last three months. 0.19% of the stock is owned by insiders.

Marvell Technology Profile

(Free Report)

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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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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