Nomura Asset Management Co. Ltd. Has $231.83 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Nomura Asset Management Co. Ltd. lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 26.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,098,922 shares of the semiconductor company’s stock after selling 763,229 shares during the period. Marvell Technology accounts for 0.7% of Nomura Asset Management Co. Ltd.’s holdings, making the stock its 17th biggest holding. Nomura Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $231,826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MRVL. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter worth about $26,000. ORG Partners LLC grew its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter worth approximately $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MRVL shares. JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Evercore ISI upped their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, TD Cowen cut their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Down 2.8 %

MRVL opened at $64.86 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The firm has a market capitalization of $56.17 billion, a P/E ratio of -38.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a fifty day moving average price of $95.30 and a 200-day moving average price of $93.52.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.