Monolith Management Ltd Purchases Shares of 85,000 Marvell Technology, Inc. (NASDAQ:MRVL)

Monolith Management Ltd purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,000 shares of the semiconductor company's stock, valued at approximately $9,388,000. Marvell Technology makes up approximately 4.9% of Monolith Management Ltd's portfolio, making the stock its 9th largest position.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake 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 acquiring an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the 4th quarter valued at $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter worth $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Up 0.4 %

Shares of NASDAQ MRVL traded up $0.25 during mid-day trading on Tuesday, reaching $58.95. 7,526,958 shares of the company traded hands, compared to its average volume of 13,604,878. The company's fifty day moving average is $67.49 and its two-hundred day moving average is $90.73. 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, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The stock has a market cap of $51.06 billion, a PE ratio of -34.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.41%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. KeyCorp decreased their target price on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Morgan Stanley decreased their target price on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Rosenblatt Securities reissued a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.56.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the company's 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 have sold a total of 27,390 shares of company stock valued at $1,937,938 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.