Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 14.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,652,983 shares of the semiconductor company’s stock after purchasing an additional 571,005 shares during the quarter. Nordea Investment Management AB’s holdings in Marvell Technology were worth $518,435,000 as of its most recent SEC filing.

Several other hedge funds 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 acquired a new position in Marvell Technology in the 2nd quarter worth $32,000. Quarry LP acquired a new stake in shares of Marvell Technology during the second quarter valued at about $32,000. Whittier Trust Co. lifted its stake in shares of Marvell Technology by 74.5% in the third 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 position in Marvell Technology in the third quarter valued at about $37,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 4.1 %

Marvell Technology stock opened at $118.18 on Monday. The business’s 50-day simple moving average is $100.53 and its 200-day simple moving average is $81.32. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15. The firm has a market capitalization of $102.26 billion, a PE ratio of -69.52, a PEG ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on MRVL. Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus reissued a “buy” rating and set a $125.00 price target (up from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen boosted their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the completion of the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,500 shares of company stock worth $14,267,670. Insiders own 0.33% of the company’s stock.

Marvell Technology 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.