Norden Group LLC Buys 212 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Norden Group LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,095 shares of the semiconductor company’s stock after acquiring an additional 212 shares during the period. Norden Group LLC’s holdings in Marvell Technology were worth $452,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Temasek Holdings Private Ltd boosted its holdings in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new position in Marvell Technology during the third quarter worth $120,116,000. Perpetual Ltd boosted its holdings in Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after purchasing an additional 535,203 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $85.83 on Tuesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of -50.49, a P/E/G ratio of 1.61 and a beta of 1.40. The firm’s 50-day simple moving average is $111.63 and its 200 day simple moving average is $93.59. 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 declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. UBS Group increased their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Susquehanna increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Rosenblatt Securities increased their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.