250,681 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by J. Goldman & Co LP

J. Goldman & Co LP purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 250,681 shares of the semiconductor company's stock, valued at approximately $27,688,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zweig DiMenna Associates LLC increased its position in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new position in Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC boosted its stake in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. United Asset Strategies Inc. raised its position in shares of Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after acquiring an additional 14,547 shares during the last quarter. Finally, Prudent Investors Network Inc. acquired a new position in shares of Marvell Technology in the 4th quarter valued at $248,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL traded up $1.48 during mid-day trading on Tuesday, reaching $65.98. The company's stock had a trading volume of 5,545,081 shares, compared to its average volume of 13,911,142. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The business has a 50-day simple moving average of $60.68 and a two-hundred day simple moving average of $89.28. The stock has a market cap of $57.00 billion, a P/E ratio of -38.81, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio is -23.53%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated 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 directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their ownership of the stock. 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 ninety days. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRVL. Bank of America cut their target price on Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus decreased their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Raymond James set a $110.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, KeyCorp lowered their price target on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently 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.