Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 357.4% during the fourth quarter, Holdings Channel reports. The firm owned 38,807 shares of the semiconductor company’s stock after purchasing an additional 30,323 shares during the period. E Fund Management Co. Ltd.’s holdings in Marvell Technology were worth $4,286,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Candriam S.C.A. boosted its holdings in Marvell Technology by 11.4% in the fourth quarter. Candriam S.C.A. now owns 855,368 shares of the semiconductor company’s stock valued at $94,475,000 after acquiring an additional 87,652 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Marvell Technology in the 4th quarter worth about $366,896,000. Dana Investment Advisors Inc. lifted its stake in shares of Marvell Technology by 208.6% in the 4th quarter. Dana Investment Advisors Inc. now owns 9,877 shares of the semiconductor company’s stock valued at $1,091,000 after purchasing an additional 6,676 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Marvell Technology by 0.5% during the 4th quarter. Arizona State Retirement System now owns 249,419 shares of the semiconductor company’s stock worth $27,548,000 after purchasing an additional 1,298 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $1,847,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on MRVL shares. Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Bank of America decreased their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday. B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group upped their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the business’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. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Down 19.8 %

Shares of NASDAQ MRVL opened at $72.28 on Friday. 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’s 50 day moving average price is $110.00 and its two-hundred day moving average price is $93.82. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The stock has a market capitalization of $62.54 billion, a P/E ratio of -42.52, a PEG ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.