Zweig DiMenna Associates LLC Acquires 12,700 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Zweig DiMenna Associates LLC grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,521 shares of the semiconductor company’s stock after buying an additional 12,700 shares during the quarter. Marvell Technology makes up about 1.8% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 16th biggest position. Zweig DiMenna Associates LLC’s holdings in Marvell Technology were worth $23,583,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MRVL. State Street Corp grew its stake in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the period. Geode Capital Management LLC lifted its holdings in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP raised 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 worth $627,034,000 after purchasing an additional 359,005 shares during the period. Finally, Van ECK Associates Corp raised its holdings in 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 worth $538,868,000 after purchasing an additional 1,570,050 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Up 0.8 %

MRVL opened at $127.08 on Friday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month 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 company has a fifty day moving average of $108.68 and a 200-day moving average of $85.65. The stock has a market cap of $109.96 billion, a PE ratio of -73.86, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MRVL shares. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Morgan Stanley raised their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. KeyCorp raised their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Stifel Nicolaus raised their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.38.

Marvell Technology Company 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.