Frontier Capital Management Co. LLC Boosts Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Frontier Capital Management Co. LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 701,823 shares of the semiconductor company's stock after purchasing an additional 24,516 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.08% of Marvell Technology worth $77,516,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Intrepid Financial Planning Group LLC boosted its stake in Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc boosted 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 valued at $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC boosted 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 valued at $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. grew its stake 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 worth $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 28,890 shares of company stock valued at $2,027,938 over the last 90 days. Insiders own 0.33% of the company's stock.

Marvell Technology Price Performance

Shares of MRVL traded up $2.02 during trading hours on Friday, reaching $59.65. 14,683,638 shares of the company traded hands, compared to its average volume of 13,894,077. The stock has a market capitalization of $51.53 billion, a PE ratio of -35.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The stock has a fifty day simple moving average of $61.19 and a 200 day simple moving average of $89.29. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently declared 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 was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.40%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MRVL shares. Roth Capital set a $100.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Barclays dropped 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 note on Tuesday, April 22nd. Cantor Fitzgerald downgraded shares of Marvell Technology from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $125.00 to $60.00 in a research note on Wednesday. Stifel Nicolaus dropped their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Melius initiated coverage on Marvell Technology in a research report on Monday, January 27th. They set a "buy" rating and a $188.00 price objective for the company. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.30.

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.