Hardman Johnston Global Advisors LLC Has $11.86 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Hardman Johnston Global Advisors LLC lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 38.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,410 shares of the semiconductor company’s stock after purchasing an additional 29,950 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Marvell Technology were worth $11,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC boosted its position in 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 acquiring an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth about $26,000. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $103.85 on Monday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $89.86 billion, a PE ratio of -61.09, a PEG ratio of 1.61 and a beta of 1.40. The business’s 50 day moving average is $113.59 and its 200-day moving average is $92.50. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MRVL shares. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Finally, The Goldman Sachs Group raised their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by corporate 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.