Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1,868.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 474,272 shares of the semiconductor company's stock after purchasing an additional 450,176 shares during the period. Two Sigma Advisers LP owned about 0.05% of Marvell Technology worth $52,383,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC grew its holdings in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after purchasing an additional 90 shares during the last quarter. PDS Planning Inc grew its holdings in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Lodestone Wealth Management LLC grew its holdings in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. grew its holdings in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 97 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 1.9%

Shares of MRVL traded down $1.16 during mid-day trading on Friday, hitting $60.69. The company's stock had a trading volume of 17,433,643 shares, compared to its average volume of 14,195,952. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The company's 50-day moving average is $59.58 and its 200-day moving average is $87.88. 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 firm has a market capitalization of $52.43 billion, a price-to-earnings ratio of -35.70, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a dividend of $0.06 per share. 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 -23.53%.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of the firm's 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 completion of the transaction, the director now directly owns 87,113 shares of the company's stock, valued at approximately $6,010,797. The trade was a 3.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the sale, the executive vice president now directly owns 626 shares of the company's stock, valued at $38,248.60. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,541 shares of company stock valued at $2,079,948 over the last 90 days. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MRVL. UBS Group lowered 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 report on Monday, May 19th. Citigroup lowered their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Barclays lowered 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 report on Tuesday, April 22nd. Benchmark lowered their price objective on shares of Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald cut shares of Marvell Technology from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $125.00 to $60.00 in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.52.

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.