Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 26.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 980,065 shares of the semiconductor company’s stock after purchasing an additional 204,615 shares during the quarter. Marvell Technology comprises 1.0% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 28th biggest holding. Vaughan Nelson Investment Management L.P.’s holdings in Marvell Technology were worth $108,248,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after acquiring an additional 68,893 shares during the period. Geode Capital Management LLC boosted its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP grew its holdings in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $110.62 on Friday. The company has a fifty day moving average price of $113.95 and a 200 day moving average price of $88.97. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Marvell Technology’s payout ratio is currently -14.12%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MRVL shares. Morgan Stanley dropped their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Citigroup raised their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

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.