Moore Capital Management LP Takes $8.46 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Moore Capital Management LP bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 76,633 shares of the semiconductor company's stock, valued at approximately $8,464,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Marvell Technology by 30.1% during 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. Janus Henderson Group PLC grew its position in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 buying an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Marvell Technology during the 4th quarter worth $1,138,354,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,890 shares of company stock worth $2,027,938. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Shares of MRVL stock opened at $59.65 on Monday. The stock has a 50-day moving average price of $61.19 and a 200 day moving average price of $89.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The firm has a market cap of $51.53 billion, a price-to-earnings ratio of -35.09, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. Marvell Technology's dividend payout ratio is currently -23.53%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. Raymond James set a $110.00 price target on Marvell Technology in a research report on Thursday, March 6th. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a research report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. TD Cowen decreased their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Finally, Bank of America reduced their target price on Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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