Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the semiconductor company’s stock after purchasing an additional 8,500 shares during the period. Needham Investment Management LLC’s holdings in Marvell Technology were worth $5,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in 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 purchasing an additional 2,254,610 shares during the last quarter. Swedbank AB raised its holdings in Marvell Technology by 653.5% in the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after acquiring an additional 2,024,269 shares in the last quarter. Holocene Advisors LP acquired a new position in Marvell Technology during the 3rd quarter worth $120,116,000. Van ECK Associates Corp boosted its stake in Marvell Technology by 26.6% during 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 buying an additional 1,570,050 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Marvell Technology during the second quarter worth about $108,204,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares in the company, valued at approximately $8,255,194.11. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on MRVL shares. Morgan Stanley increased their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark increased their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Loop Capital initiated coverage on shares of Marvell Technology in a research report on Monday, November 11th. They set a “hold” rating and a $95.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.43.

Marvell Technology Price Performance

MRVL stock traded up $4.17 on Tuesday, reaching $96.86. 17,482,036 shares of the company were exchanged, compared to its average volume of 8,545,211. The stock’s fifty day moving average price is $83.01 and its 200 day moving average price is $74.56. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $97.63. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.25%. Marvell Technology’s dividend payout ratio is -21.62%.

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.