Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Amundi

Amundi lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,281,354 shares of the semiconductor company’s stock after purchasing an additional 549,705 shares during the period. Amundi’s holdings in Marvell Technology were worth $387,954,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Zweig DiMenna Associates LLC grew its stake in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $637,000. RFG Advisory LLC grew its stake in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology in the third quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have 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 currently owned by company insiders.

Marvell Technology Trading Down 2.0 %

NASDAQ:MRVL opened at $70.84 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The firm has a market cap of $61.30 billion, a price-to-earnings ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. 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’s 50 day moving average is $108.27 and its 200-day moving average is $93.84.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is -23.53%.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent analyst reports. TD Cowen decreased their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday. Barclays decreased their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Bank of America decreased their target price on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. Finally, Citigroup decreased their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a report on Thursday. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.68.

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.