Sphera Management Technology Funds Ltd Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Sphera Management Technology Funds Ltd acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,000 shares of the semiconductor company’s stock, valued at approximately $6,075,000. Marvell Technology comprises about 3.5% of Sphera Management Technology Funds Ltd’s portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Visionary Wealth Advisors bought a new stake in Marvell Technology during the fourth quarter valued at about $257,000. WBI Investments LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth about $1,838,000. Westwood Holdings Group Inc. grew its holdings in Marvell Technology by 405.6% in the 4th quarter. Westwood Holdings Group Inc. now owns 513,519 shares of the semiconductor company’s stock valued at $56,718,000 after buying an additional 411,952 shares during the last quarter. Twinbeech Capital LP bought a new position in Marvell Technology in the 4th quarter worth approximately $68,479,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Marvell Technology by 1,868.3% during the fourth quarter. Two Sigma Advisers LP now owns 474,272 shares of the semiconductor company’s stock worth $52,383,000 after buying an additional 450,176 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the sale, the chief operating officer now owns 92,065 shares of the company’s stock, valued at $5,993,431.50. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,915 shares of company stock valued at $2,679,800. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. TD Cowen decreased their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Benchmark cut their price target on Marvell Technology from $135.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, KeyCorp reduced their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.27.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $63.76 on Monday. 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 1-year low of $47.09 and a 1-year high of $127.48. The stock has a market capitalization of $55.08 billion, a P/E ratio of -37.51, a P/E/G ratio of 1.61 and a beta of 1.83. The business has a 50-day moving average price of $60.36 and a two-hundred day moving average price of $88.78.

Marvell Technology Announces Dividend

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

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.