K2 Principal Fund L.P. cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,946 shares of the semiconductor company's stock after selling 5,522 shares during the quarter. K2 Principal Fund L.P.'s holdings in Marvell Technology were worth $1,761,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of MRVL. Norges Bank acquired a new stake in Marvell Technology during the 4th quarter valued at $1,138,354,000. GQG Partners LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $802,410,000. Wellington Management Group LLP boosted its stake in shares of Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Invesco Ltd. raised its position in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Marvell Technology during the fourth quarter worth about $366,896,000. Hedge funds and other institutional investors own 83.51% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. TD Cowen lowered their target price on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Stifel Nicolaus dropped their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reiterated an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Barclays decreased their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $110.30.
Read Our Latest Research Report on MRVL
Marvell Technology Trading Up 3.3%
Shares of NASDAQ MRVL traded up $2.14 during midday trading on Tuesday, reaching $66.64. 3,615,789 shares of the stock were exchanged, compared to its average volume of 13,905,419. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The stock has a market capitalization of $57.56 billion, a P/E ratio of -39.10, a PEG ratio of 1.61 and a beta of 1.83. The company has a 50 day simple moving average of $60.68 and a 200 day simple moving average of $89.28. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid 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 0.36%. Marvell Technology's payout ratio is -23.53%.
Insider Activity at Marvell Technology
In related news, COO Chris Koopmans sold 6,000 shares of the firm'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 sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated 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 28,890 shares of company stock valued at $2,027,938 over the last quarter. 0.19% of the stock is owned by insiders.
About Marvell Technology
(
Free Report)
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.
Further Reading
Before you consider Marvell Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marvell Technology wasn't on the list.
While Marvell Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
