5,769 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Berbice Capital Management LLC

Berbice Capital Management LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 5,769 shares of the semiconductor company’s stock, valued at approximately $637,000. Marvell Technology accounts for approximately 0.5% of Berbice Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in shares of 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 acquiring an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd increased its position in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new position in shares of Marvell Technology in the third quarter valued at about $120,116,000. Van ECK Associates Corp increased its position in shares of 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 valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, Perpetual Ltd increased its position in shares of Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after buying an additional 682,457 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 0.3 %

Shares of MRVL stock opened at $125.70 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a market cap of $108.77 billion, a P/E ratio of -73.96, a P/E/G ratio of 4.12 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $108.68 and a two-hundred day simple moving average of $85.65.

Marvell Technology Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on MRVL shares. Stifel Nicolaus boosted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Needham & Company LLC boosted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, UBS Group boosted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

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.