Nordea Investment Management AB Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Nordea Investment Management AB grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,652,983 shares of the semiconductor company’s stock after purchasing an additional 571,005 shares during the period. Nordea Investment Management AB owned approximately 0.54% of Marvell Technology worth $518,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MRVL. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% during 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 in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology in the second quarter worth approximately $32,000. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. grew its holdings in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Marvell Technology in the 3rd quarter valued at approximately $37,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 4.1 %

Shares of Marvell Technology stock opened at $118.18 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a 50 day moving average price of $100.53 and a 200 day moving average price of $81.32. The company has a market capitalization of $102.26 billion, a P/E ratio of -69.52, a P/E/G ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy purchased 13,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were purchased at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the purchase, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 172,500 shares of company stock worth $14,267,670. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. UBS Group boosted their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp increased their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

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.