Chelsea Counsel Co. Invests $44,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Chelsea Counsel Co. acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 400 shares of the semiconductor company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $1,138,354,000. GQG Partners LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $802,410,000. Nuveen Asset Management LLC boosted its position in shares of Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after purchasing an additional 6,543,132 shares during the period. Wellington Management Group LLP boosted its position in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 626 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the sale, the executive vice president now owns 626 shares of the company’s stock, valued at $38,248.60. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,541 shares of company stock valued at $2,079,948 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $60.69 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $59.58 and a two-hundred day moving average of $87.84. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a market cap of $52.43 billion, a P/E ratio of -35.70, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays decreased their target price on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Citigroup decreased their target price on Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Finally, UBS Group reduced their price objective on Marvell Technology from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.52.

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.