Polar Capital Holdings Plc Has $187.86 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Polar Capital Holdings Plc increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 577.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,700,816 shares of the semiconductor company's stock after purchasing an additional 1,449,816 shares during the quarter. Marvell Technology accounts for approximately 1.1% of Polar Capital Holdings Plc's holdings, making the stock its 18th biggest position. Polar Capital Holdings Plc owned approximately 0.20% of Marvell Technology worth $187,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management increased its position in shares of 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 buying an additional 478 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth $250,000. Cooper Financial Group purchased a new stake in shares of Marvell Technology in the fourth quarter worth about $321,000. Courier Capital LLC acquired a new stake in Marvell Technology during the 4th quarter valued at $221,000. Finally, Accurate Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at approximately $280,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MRVL. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research note on Thursday, March 6th. Melius started 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. Cantor Fitzgerald lowered Marvell Technology from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $125.00 to $60.00 in a research report on Wednesday, May 7th. UBS Group reduced their price target on shares of Marvell Technology from $110.00 to $100.00 and set a "buy" rating for the company in a report on Monday. Finally, Stifel Nicolaus lowered 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 report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.69.

Insider Activity

In related news, 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 value 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 $9,351,461.85. This represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was 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 have sold 38,915 shares of company stock worth $2,679,800 in the last 90 days. Company insiders own 0.19% of the company's stock.

Marvell Technology Trading Down 1.8%

Marvell Technology stock traded down $1.15 during midday trading on Monday, reaching $62.61. The stock had a trading volume of 8,040,964 shares, compared to its average volume of 14,013,043. The firm's fifty day simple moving average is $60.36 and its two-hundred day simple moving average is $88.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The firm has a market cap of $54.08 billion, a price-to-earnings ratio of -36.81, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio is currently -23.53%.

Marvell Technology 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.