Franchise Capital Ltd Invests $1.48 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Franchise Capital Ltd acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,368 shares of the semiconductor company's stock, valued at approximately $1,476,000. Marvell Technology comprises 0.7% of Franchise Capital Ltd's portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. Davidson Kempner Capital Management LP lifted its holdings in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in Marvell Technology in the 3rd quarter worth about $16,435,000. Charles Schwab Investment Management Inc. lifted its stake in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock valued at $235,247,000 after acquiring an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock valued at $206,418,000 after acquiring an additional 535,203 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Marvell Technology in the third quarter worth approximately $3,432,000. 83.51% of the stock is owned by institutional investors.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company's stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,500 shares of company stock worth $14,267,670. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Up 4.1 %

Shares of MRVL stock traded up $4.62 on Friday, reaching $118.18. 11,779,189 shares of the stock were exchanged, compared to its average volume of 10,425,295. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. 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 company has a market capitalization of $102.26 billion, a price-to-earnings ratio of -69.52, a PEG ratio of 4.03 and a beta of 1.46. The business's 50 day moving average price is $100.53 and its 200 day moving average price is $81.20.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. TD Cowen raised their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Benchmark reiterated a "buy" rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. B. Riley raised their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley upped their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.76.

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.