Princeton Capital Management LLC Has $2.18 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Princeton Capital Management LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,737 shares of the semiconductor company’s stock after acquiring an additional 880 shares during the quarter. Marvell Technology makes up approximately 0.7% of Princeton Capital Management LLC’s portfolio, making the stock its 28th largest position. Princeton Capital Management LLC’s holdings in Marvell Technology were worth $2,180,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $366,896,000. Temasek Holdings Private Ltd increased its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new position in Marvell Technology during the 3rd quarter valued at $120,116,000. Prudential Financial Inc. boosted its holdings in Marvell Technology by 1,006.0% in the 4th quarter. Prudential Financial Inc. now owns 806,027 shares of the semiconductor company’s stock valued at $89,026,000 after purchasing an additional 733,147 shares during the period. Finally, Perpetual Ltd grew its position in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This trade represents a 6.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,685 shares of company stock worth $4,026,768. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $72.76 on Tuesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. 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 stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of -42.80, a PEG ratio of 1.61 and a beta of 1.42. The firm has a fifty day moving average of $98.21 and a two-hundred day moving average of $93.87.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Craig Hallum lifted their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Oppenheimer upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Morgan Stanley lowered their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Three investment 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. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $120.44.

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.