Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,778 shares of the semiconductor company’s stock after buying an additional 7,019 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Marvell Technology were worth $4,062,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MRVL. Norges Bank acquired a new position in Marvell Technology in the fourth quarter valued at $1,138,354,000. GQG Partners LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at about $802,410,000. Raymond James Financial Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $366,896,000. Artisan Partners Limited Partnership grew its stake in Marvell Technology by 98.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock worth $452,936,000 after buying an additional 2,034,353 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its position 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 buying an additional 1,911,532 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, Director Brad W. Buss bought 3,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the 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 in the company, 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. Insiders have sold 35,185 shares of company stock valued at $3,744,268 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MRVL. JPMorgan Chase & Co. raised their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp dropped their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. UBS Group boosted their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Trading Up 0.9 %

NASDAQ:MRVL opened at $63.23 on Thursday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week 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 stock has a fifty day simple moving average of $90.32 and a 200-day simple moving average of $93.37. The company has a market capitalization of $54.76 billion, a PE ratio of -37.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

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

About Marvell Technology

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.