J. Goldman & Co LP Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

J. Goldman & Co LP acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 250,681 shares of the semiconductor company’s stock, valued at approximately $27,688,000.

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

Marvell Technology Trading Up 3.5 %

MRVL opened at $59.65 on Friday. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a fifty day moving average of $61.19 and a 200-day moving average of $89.34. The stock has a market cap of $51.53 billion, a PE ratio of -35.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Analyst Ratings Changes

A number of research firms recently commented on MRVL. Stifel Nicolaus dropped their price target on Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Benchmark decreased their price objective on shares of Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen cut their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Citigroup decreased their price target on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.30.

Insider Activity

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,890 shares of company stock valued at $2,027,938 in the last ninety days. 0.33% of the stock is owned by company insiders.

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.