Polymer Capital Management US LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Polymer Capital Management US LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, HoldingsChannel.com reports. The fund bought 118,500 shares of the semiconductor company’s stock, valued at approximately $13,088,000. Marvell Technology comprises about 3.5% of Polymer Capital Management US LLC’s holdings, making the stock its 4th largest holding.

Several other large investors have also recently modified their holdings of MRVL. ORG Partners LLC increased its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 11.2 %

Shares of MRVL opened at $49.43 on Monday. Marvell Technology, Inc. has a 1 year low of $46.50 and a 1 year high of $127.48. The company has a 50 day simple moving average of $87.42 and a two-hundred day simple moving average of $93.23. 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 market cap of $42.81 billion, a P/E ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insiders Place Their Bets

In other news, Director Brad W. Buss acquired 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,185 shares of company stock worth $3,131,018 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MRVL shares. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Thursday, March 6th. Piper Sandler reduced their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, TD Cowen cut their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

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.