Hudson Bay Capital Management LP Makes New $3.04 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Hudson Bay Capital Management LP purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,520 shares of the semiconductor company’s stock, valued at approximately $3,040,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ORG Partners LLC raised its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Marvell Technology by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company’s stock worth $5,520,000 after buying an additional 629 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Marvell Technology by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company’s stock worth $1,096,000 after buying an additional 242 shares during the period. Brookstone Capital Management boosted its position in Marvell Technology by 16.0% during the 4th quarter. Brookstone Capital Management now owns 3,473 shares of the semiconductor company’s stock valued at $384,000 after acquiring an additional 478 shares in the last quarter. Finally, Capital Investment Advisors LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $250,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of research analyst reports. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Morgan Stanley dropped 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 report on Thursday, March 6th. Piper Sandler decreased their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Melius initiated coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Finally, Benchmark cut their price objective on shares of Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $110.30.

Marvell Technology Stock Up 8.1%

Shares of Marvell Technology stock opened at $64.50 on Tuesday. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $60.68 and its 200 day moving average is $89.28. The company has a market cap of $55.72 billion, a price-to-earnings ratio of -37.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology’s payout ratio is -23.53%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the transaction, the chief financial officer now owns 124,348 shares of the company’s stock, valued at approximately $7,460,880. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,890 shares of company stock worth $2,027,938 in the last ninety days. Insiders own 0.19% of the company’s stock.

Marvell Technology 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.