Select Equity Group L.P. Acquires New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Select Equity Group L.P. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 27,868 shares of the semiconductor company’s stock, valued at approximately $3,078,000.

Several other institutional investors have also added to or reduced their stakes in MRVL. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at $27,000. Financial Life Planners bought a new stake in Marvell Technology in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. bought a new stake in Marvell Technology in the 4th quarter valued at $35,000. Finally, GHP Investment Advisors Inc. lifted its position in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 112 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Activity at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the company’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 transaction, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 38,915 shares of company stock worth $2,679,800. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MRVL. Citigroup cut their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Piper Sandler cut their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Stifel Nicolaus cut their price target on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $111.27.

Marvell Technology Stock Down 2.2%

Shares of MRVL opened at $63.76 on Friday. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The firm has a market cap of $55.08 billion, a P/E ratio of -37.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The firm’s 50-day simple moving average is $60.36 and its 200 day simple moving average is $88.72. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

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.