13,514 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 13,514 shares of the semiconductor company’s stock, valued at approximately $1,493,000.

A number of other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 336 shares in the last quarter. Creative Planning grew its position in shares of Marvell Technology by 37.5% in the third quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock valued at $7,482,000 after purchasing an additional 28,286 shares in the last quarter. Swedbank AB raised its stake in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. Bleakley Financial Group LLC lifted its holdings in Marvell Technology by 11.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,714 shares of the semiconductor company’s stock worth $989,000 after purchasing an additional 1,423 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Marvell Technology by 19.6% in the 3rd quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 1,164 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $106.51 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a 50 day simple moving average of $113.93 and a two-hundred day simple moving average of $91.10. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a market capitalization of $92.16 billion, a price-to-earnings ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MRVL shares. The Goldman Sachs Group upped their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Loop Capital raised their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. UBS Group boosted 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. Finally, Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.60.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,255 shares of company stock valued at $3,692,880. Insiders own 0.33% of the company’s stock.

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.