Light Street Capital Management LLC Makes New $29.78 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Light Street Capital Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 269,646 shares of the semiconductor company's stock, valued at approximately $29,782,000. Marvell Technology makes up approximately 5.5% of Light Street Capital Management LLC's holdings, making the stock its 3rd biggest position.

A number of other large investors have also recently made changes to their positions in the company. ORG Partners LLC boosted its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Marvell Technology by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company's stock valued at $5,520,000 after buying an additional 629 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Marvell Technology by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company's stock valued at $1,096,000 after acquiring an additional 242 shares during the last quarter. Graypoint LLC lifted its position in Marvell Technology by 28.6% in the fourth quarter. Graypoint LLC now owns 4,018 shares of the semiconductor company's stock valued at $444,000 after acquiring an additional 894 shares during the last quarter. Finally, Brookstone Capital Management boosted its stake in Marvell Technology by 16.0% in the fourth quarter. Brookstone Capital Management now owns 3,473 shares of the semiconductor company's stock valued at $384,000 after acquiring an additional 478 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares of the company's stock, valued at approximately $7,818,537.36. This trade represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold 28,890 shares of company stock worth $2,027,938 in the last 90 days. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Up 3.5%

MRVL stock opened at $59.65 on Monday. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The stock has a market capitalization of $51.53 billion, a P/E ratio of -35.09, a PEG ratio of 1.61 and a beta of 1.83. The company has a 50 day moving average price of $61.19 and a two-hundred day moving average price of $89.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MRVL shares. KeyCorp reduced their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Citigroup dropped their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Roth Capital set a $100.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus target price of $110.30.

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.

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