Point72 Hong Kong Ltd Invests $645,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Point72 Hong Kong Ltd bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,836 shares of the semiconductor company's stock, valued at approximately $645,000.

Other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth $27,000. Financial Life Planners bought a new position in Marvell Technology in the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology during the 4th quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 1.8%

Shares of Marvell Technology stock traded down $1.14 during trading on Tuesday, reaching $61.42. The company's stock had a trading volume of 21,424,152 shares, compared to its average volume of 14,089,774. The firm's 50-day moving average is $60.22 and its two-hundred day moving average is $88.63. 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 52-week low of $47.09 and a 52-week high of $127.48. The company has a market cap of $53.06 billion, a price-to-earnings ratio of -36.13, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRVL shares. KeyCorp lowered their price target on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus lowered their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Citigroup dropped their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Loop Capital upgraded 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 report on Thursday, March 6th. Finally, Morgan Stanley cut their target price on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $110.69.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brad W. Buss purchased 3,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 33,541 shares of company stock worth $2,079,948 in the last ninety days. 0.19% of the stock is owned by company insiders.

About Marvell Technology

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.