QRG Capital Management Inc. Has $4.25 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

QRG Capital Management Inc. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,451 shares of the semiconductor company’s stock after acquiring an additional 3,672 shares during the quarter. QRG Capital Management Inc.’s holdings in Marvell Technology were worth $4,247,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $26,000. ORG Partners LLC lifted its holdings 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 acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Marvell Technology in the fourth quarter valued at about $33,000. Financial Life Planners bought a new stake in shares of Marvell Technology in the fourth quarter worth about $33,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares during the period. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MRVL shares. Piper Sandler reiterated an “overweight” rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Evercore ISI increased their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. UBS Group boosted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Up 4.8 %

Marvell Technology stock opened at $91.82 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a market capitalization of $79.45 billion, a PE ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. The company’s 50-day moving average is $112.03 and its 200-day moving average is $92.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.26%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 over the last three months. Insiders own 0.33% of the company’s stock.

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.