Twinbeech Capital LP Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Twinbeech Capital LP bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 620,004 shares of the semiconductor company's stock, valued at approximately $68,479,000. Marvell Technology makes up 1.2% of Twinbeech Capital LP's holdings, making the stock its 10th largest position. Twinbeech Capital LP owned 0.07% of Marvell Technology as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Intrepid Financial Planning Group LLC raised its position in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after purchasing an additional 90 shares during the last quarter. PDS Planning Inc raised its position in shares of Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after purchasing an additional 92 shares during the last quarter. Lodestone Wealth Management LLC raised its position in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after buying an additional 97 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $63.76 on Monday. The stock's fifty day moving average is $60.36 and its 200 day moving average is $88.78. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The firm has a market capitalization of $55.08 billion, a PE ratio of -37.51, 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.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid 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 0.38%. Marvell Technology's payout ratio is -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,239 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.01, for a total value of $80,547.39. Following the completion of the sale, the chief accounting officer now owns 30,855 shares in the company, valued at approximately $2,005,883.55. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,915 shares of company stock worth $2,679,800 over the last quarter. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on MRVL shares. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research note on Thursday, March 6th. Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a "buy" rating and a $188.00 price target for the company. Needham & Company LLC reduced their price target on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Morgan Stanley cut their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Finally, Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.27.

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.

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