Melqart Asset Management UK Ltd Has $23.66 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Melqart Asset Management UK Ltd raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 214,197 shares of the semiconductor company’s stock after buying an additional 17,434 shares during the quarter. Marvell Technology accounts for 2.9% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 11th largest holding. Melqart Asset Management UK Ltd’s holdings in Marvell Technology were worth $23,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pine Valley Investments Ltd Liability Co boosted its stake in Marvell Technology by 8.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock worth $1,716,000 after acquiring an additional 1,773 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Marvell Technology by 1.4% during the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock worth $2,911,000 after purchasing an additional 560 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Marvell Technology during the 3rd quarter worth about $3,432,000. Synovus Financial Corp increased its position in Marvell Technology by 60.5% in the 3rd quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock valued at $468,000 after buying an additional 2,445 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its stake in Marvell Technology by 27.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock worth $1,681,000 after buying an additional 5,005 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 2.8 %

Shares of MRVL opened at $58.92 on Friday. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The business has a 50-day moving average of $68.53 and a 200 day moving average of $90.71. The firm has a market cap of $51.03 billion, a P/E ratio of -34.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. Marvell Technology’s payout ratio is -23.53%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brad W. Buss purchased 3,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $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 have sold a total of 27,390 shares of company stock valued at $1,937,938 over the last quarter. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. Barclays decreased their price objective on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Raymond James set a $110.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. TD Cowen lowered their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Melius began coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.56.

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.