Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,408 shares of the semiconductor company's stock after purchasing an additional 14,480 shares during the quarter. Gotham Asset Management LLC's holdings in Marvell Technology were worth $8,660,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Norges Bank acquired a new stake in Marvell Technology during the 4th quarter worth approximately $1,138,354,000. GQG Partners LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $802,410,000. Wellington Management Group LLP increased its position in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Invesco Ltd. increased its position in Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Marvell Technology during the 4th quarter worth approximately $366,896,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the sale, the chief financial officer now owns 124,348 shares in the company, valued at $7,460,880. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,890 shares of company stock worth $2,027,938. 0.19% of the stock is owned by insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $64.50 on Tuesday. The business's fifty day moving average price is $60.68 and its 200 day moving average price is $89.28. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The stock has a market capitalization of $55.72 billion, a PE ratio of -37.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Piper Sandler dropped their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, KeyCorp lowered their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Four 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.30.

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.

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