Two Sigma Investments LP Acquires 832,675 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Two Sigma Investments LP increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 743.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 944,634 shares of the semiconductor company's stock after buying an additional 832,675 shares during the period. Two Sigma Investments LP owned about 0.11% of Marvell Technology worth $104,335,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Financial Life Planners acquired a new position in shares of Marvell Technology in the fourth quarter worth approximately $33,000. Lee Danner & Bass Inc. bought a new stake in Marvell Technology in the fourth quarter valued at approximately $35,000. Finally, GHP Investment Advisors Inc. raised its holdings in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 112 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MRVL shares. Barclays decreased 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. Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Finally, William Blair raised Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Four research 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $110.69.

Insiders Place Their Bets

In related news, 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 transaction of $685,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. This represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 in the last quarter. 0.19% of the stock is owned by company insiders.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $1.14 during trading on Tuesday, hitting $61.42. 22,305,527 shares of the company were exchanged, compared to its average volume of 14,107,819. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock has a 50 day moving average of $60.07 and a 200 day moving average of $88.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market cap of $53.06 billion, a PE ratio of -36.13, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Marvell Technology Company 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.