Brown Brothers Harriman & Co. Purchases 404 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Brown Brothers Harriman & Co. boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 182.0% during the 4th quarter, Holdings Channel reports. The fund owned 626 shares of the semiconductor company’s stock after buying an additional 404 shares during the period. Brown Brothers Harriman & Co.’s holdings in Marvell Technology were worth $69,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DnB Asset Management AS lifted its stake in shares of Marvell Technology by 5.1% in the fourth quarter. DnB Asset Management AS now owns 159,027 shares of the semiconductor company’s stock valued at $17,565,000 after buying an additional 7,770 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Marvell Technology by 51.9% in the 4th quarter. Level Four Advisory Services LLC now owns 7,171 shares of the semiconductor company’s stock worth $792,000 after acquiring an additional 2,450 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. acquired a new position in Marvell Technology during the 4th quarter valued at about $46,389,000. Norges Bank bought a new stake in Marvell Technology during the 4th quarter worth approximately $1,138,354,000. Finally, Howe & Rusling Inc. raised its stake in shares of Marvell Technology by 14.5% in the fourth quarter. Howe & Rusling Inc. now owns 3,362 shares of the semiconductor company’s stock worth $371,000 after purchasing an additional 427 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, March 6th. Finally, Citigroup dropped their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Price Performance

Marvell Technology stock opened at $62.67 on Wednesday. The firm has a market capitalization of $54.28 billion, a P/E ratio of -36.86, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a fifty day moving average price of $91.56 and a 200-day moving average price of $93.58.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock valued at $4,026,768 in the last quarter. 0.33% of the stock is currently owned by corporate 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.