Meeder Asset Management Inc. Raises Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Meeder Asset Management Inc. boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 3,028.5% in the 4th quarter, Holdings Channel reports. The firm owned 16,706 shares of the semiconductor company’s stock after acquiring an additional 16,172 shares during the quarter. Meeder Asset Management Inc.’s holdings in Marvell Technology were worth $1,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Townsquare Capital LLC grew its stake in Marvell Technology by 54.9% during the third quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company’s stock valued at $842,000 after acquiring an additional 4,136 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Marvell Technology by 137.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 6,939 shares of the semiconductor company’s stock valued at $500,000 after purchasing an additional 4,011 shares during the period. Captrust Financial Advisors grew its position in shares of Marvell Technology by 3.5% during the 3rd quarter. Captrust Financial Advisors now owns 37,040 shares of the semiconductor company’s stock valued at $2,671,000 after purchasing an additional 1,260 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Marvell Technology in the third quarter worth $7,395,000. 83.51% of the stock is currently owned by institutional investors.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC decreased their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Barclays decreased their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Three equities 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’s stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Trading Down 4.3 %

Marvell Technology stock opened at $62.04 on Monday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a market cap of $53.73 billion, a P/E ratio of -36.49, 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 business has a 50-day simple moving average of $94.05 and a two-hundred day simple moving average of $93.75.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s payout ratio is -23.53%.

Marvell Technology 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.