Occudo Quantitative Strategies LP Acquires New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Occudo Quantitative Strategies LP acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 49,476 shares of the semiconductor company's stock, valued at approximately $5,465,000. Marvell Technology accounts for about 1.0% of Occudo Quantitative Strategies LP's investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after purchasing an additional 857,087 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of 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. Geode Capital Management LLC increased its stake 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 worth $1,263,755,000 after purchasing an additional 80,005 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $1,138,354,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $64.50 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $55.72 billion, a price-to-earnings ratio of -37.94, a PEG ratio of 1.61 and a beta of 1.83. The firm's fifty day simple moving average is $60.68 and its 200 day simple moving average is $89.28. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently declared 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. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Insider Buying and Selling

In other news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. The trade was a 6.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,890 shares of company stock valued at $2,027,938 in the last quarter. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MRVL shares. KeyCorp dropped their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus dropped their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Loop Capital raised shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research note on Thursday, March 6th. Morgan Stanley dropped their price objective on shares of 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. Finally, Cantor Fitzgerald cut shares of Marvell Technology from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $125.00 to $60.00 in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus target price of $110.30.

Marvell Technology Company 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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