Sphera Management Technology Funds Ltd Invests $6.08 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Sphera Management Technology Funds Ltd acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 55,000 shares of the semiconductor company’s stock, valued at approximately $6,075,000. Marvell Technology accounts for about 3.5% of Sphera Management Technology Funds Ltd’s investment portfolio, making the stock its 5th biggest holding.

A number of other large investors have also bought and sold shares of MRVL. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $27,000. Financial Life Planners bought a new stake in Marvell Technology during the 4th quarter worth about $33,000. Lee Danner & Bass Inc. bought a new stake in Marvell Technology during the 4th quarter worth about $35,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

Marvell Technology stock opened at $63.76 on Monday. The stock has a fifty day moving average of $60.36 and a 200-day moving average of $88.78. The stock has a market capitalization of $55.08 billion, a P/E ratio of -37.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. 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, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Benchmark decreased their target price on shares of Marvell Technology from $135.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Citigroup lowered their target price on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Morgan Stanley cut their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $111.27.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Panteha Dixon sold 1,239 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.01, for a total transaction of $80,547.39. Following the sale, the chief accounting officer now directly owns 30,855 shares in the company, valued at approximately $2,005,883.55. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,915 shares of company stock valued at $2,679,800. 0.19% of the stock is currently owned by insiders.

Marvell Technology Company 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.