OMERS ADMINISTRATION Corp Has $3.98 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

OMERS ADMINISTRATION Corp grew its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,005 shares of the semiconductor company's stock after purchasing an additional 6,009 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Marvell Technology were worth $3,977,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Intrepid Financial Planning Group LLC boosted its stake in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc grew its stake in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. grew its stake in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the transaction, the chief operating officer now owns 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brad W. Buss acquired 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 38,915 shares of company stock worth $2,679,800 over the last 90 days. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent analyst reports. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a research note on Thursday, March 6th. Benchmark cut their price objective on Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, Rosenblatt Securities restated a "buy" rating and set a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

Marvell Technology Price Performance

Shares of MRVL traded down $1.44 on Friday, hitting $63.76. The company's stock had a trading volume of 18,619,351 shares, compared to its average volume of 14,026,913. The company has a market capitalization of $55.08 billion, a PE ratio of -37.51, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The company has a 50 day moving average price of $60.43 and a 200 day moving average price of $88.83. 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 company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given 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 0.38%. Marvell Technology's 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.