Ion Asset Management Ltd. Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Ion Asset Management Ltd. grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the semiconductor company’s stock after purchasing an additional 1,000 shares during the period. Ion Asset Management Ltd.’s holdings in Marvell Technology were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MRVL. ORG Partners LLC boosted 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 buying an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $27,000. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 0.4 %

NASDAQ MRVL opened at $58.70 on Tuesday. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The firm has a market cap of $50.84 billion, a PE ratio of -34.53, a P/E/G ratio of 1.61 and a beta of 1.78. The firm’s fifty day moving average is $67.49 and its two-hundred day moving average is $90.73. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Raymond James set a $110.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Stifel Nicolaus cut their price objective on Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $114.56.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brad W. Buss acquired 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 27,390 shares of company stock valued at $1,937,938. 0.33% of the stock is owned by company insiders.

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.