Flputnam Investment Management Co. Takes $288,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Flputnam Investment Management Co. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,606 shares of the semiconductor company’s stock, valued at approximately $288,000.

Other large investors have also added to or reduced their stakes in the company. Temasek Holdings Private Ltd raised its stake in shares of 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 valued at $161,555,000 after acquiring an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Marvell Technology in the third quarter worth $120,116,000. Perpetual Ltd increased its holdings in Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after purchasing an additional 682,457 shares during the period. Nordea Investment Management AB increased its holdings in Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 6.5 %

NASDAQ:MRVL opened at $85.83 on Tuesday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a market cap of $74.27 billion, a PE ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. 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 firm has a 50-day moving average of $111.63 and a 200-day moving average of $93.59.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MRVL shares. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Needham & Company LLC increased their target price 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. TD Cowen boosted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Loop Capital lifted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.