Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Xponance Inc.

Xponance Inc. lifted its position in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,455 shares of the semiconductor company’s stock after purchasing an additional 348 shares during the period. Xponance Inc.’s holdings in Marvell Technology were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Venture Visionary Partners LLC acquired a new stake in Marvell Technology in the 2nd quarter worth about $56,000. Gilbert & Cook Inc. boosted its holdings in Marvell Technology by 9.2% in the 2nd quarter. Gilbert & Cook Inc. now owns 7,021 shares of the semiconductor company’s stock worth $306,000 after buying an additional 589 shares during the last quarter. Liontrust Investment Partners LLP acquired a new stake in Marvell Technology in the 2nd quarter worth about $1,157,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Marvell Technology in the 2nd quarter worth about $114,637,000. Finally, Woodline Partners LP acquired a new stake in Marvell Technology in the 1st quarter worth about $18,145,000. 81.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other news, EVP Mitchell Gaynor sold 5,000 shares of the company’s stock in a transaction on Saturday, October 15th. The stock was sold at an average price of $39.61, for a total transaction of $198,050.00. Following the sale, the executive vice president now owns 103,429 shares of the company’s stock, valued at $4,096,822.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Marvell Technology Stock Up 4.1 %

Shares of NASDAQ MRVL opened at $36.10 on Monday. Marvell Technology, Inc. has a 52-week low of $33.75 and a 52-week high of $87.42. The business’s 50 day moving average is $40.39 and its two-hundred day moving average is $44.82. The company has a quick ratio of 0.92, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The firm has a market cap of $30.80 billion, a price-to-earnings ratio of -225.63, a PEG ratio of 2.21 and a beta of 1.45.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 5th. Marvell Technology’s dividend payout ratio is currently -150.00%.

Analyst Upgrades and Downgrades

MRVL has been the topic of several recent research reports. Piper Sandler lowered their target price on Marvell Technology from $80.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, December 2nd. Barclays lowered their target price on Marvell Technology from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, December 2nd. Exane BNP Paribas initiated coverage on Marvell Technology in a report on Tuesday, September 13th. They set an “outperform” rating on the stock. Cowen lowered their target price on Marvell Technology from $70.00 to $55.00 in a report on Friday, December 2nd. Finally, Craig Hallum lowered their target price on Marvell Technology from $90.00 to $63.00 in a report on Friday, December 2nd. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.31.

About Marvell Technology

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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