Man Group plc Buys 27,734 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Man Group plc lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 95.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 56,652 shares of the semiconductor company’s stock after purchasing an additional 27,734 shares during the quarter. Man Group plc’s holdings in Marvell Technology were worth $6,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Nicholas Investment Partners LP bought a new stake in Marvell Technology in the 4th quarter valued at $542,000. NorthRock Partners LLC raised its holdings in Marvell Technology by 9.0% in the 4th quarter. NorthRock Partners LLC now owns 6,479 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 534 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after acquiring an additional 6,543,132 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Marvell Technology during the 4th quarter worth $5,465,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Marvell Technology by 20.0% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 36,005 shares of the semiconductor company’s stock worth $3,977,000 after buying an additional 6,009 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost 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 approximately $6,010,797. This represents a 3.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 626 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the sale, the executive vice president now directly owns 626 shares of the company’s stock, valued at approximately $38,248.60. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock valued at $2,079,948 over the last ninety days. 0.19% of the stock is owned by insiders.

Marvell Technology Stock Down 1.8%

MRVL opened at $61.42 on Wednesday. The company has a market cap of $53.06 billion, a P/E ratio of -36.13, a P/E/G ratio of 1.61 and a beta of 1.83. The business’s 50-day moving average price is $60.07 and its 200-day moving average price is $88.44. The company has a current ratio of 1.60, a quick ratio of 1.11 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.

Marvell Technology Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s payout ratio is presently -23.53%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRVL shares. Bank of America lowered their price target on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Raymond James set a $110.00 price target on Marvell Technology in a research report on Thursday, March 6th. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Benchmark cut their target price on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. Four equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.69.

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.