Marvell Technology, Inc. (NASDAQ:MRVL) Position Increased by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the semiconductor company’s stock after acquiring an additional 50,000 shares during the quarter. Marvell Technology makes up about 4.8% of Ardmore Road Asset Management LP’s holdings, making the stock its 6th biggest holding. Ardmore Road Asset Management LP’s holdings in Marvell Technology were worth $33,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock worth $838,617,000 after purchasing an additional 1,691,242 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in Marvell Technology by 7.4% during the 4th quarter. Meeder Advisory Services Inc. now owns 16,137 shares of the semiconductor company’s stock worth $1,782,000 after buying an additional 1,105 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in shares of Marvell Technology during the 4th quarter worth about $16,402,000. Headlands Technologies LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $1,885,000. Finally, Elwood Capital Partners LP acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $1,381,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp reduced their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald boosted their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $62.67 on Wednesday. The business has a 50 day simple moving average of $91.56 and a 200 day simple moving average of $93.58. The firm has a market capitalization of $54.28 billion, a price-to-earnings ratio of -36.86, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% 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.