Himension Capital Singapore PTE. LTD. Makes New $6.78 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 61,404 shares of the semiconductor company’s stock, valued at approximately $6,782,000. Marvell Technology makes up 0.5% of Himension Capital Singapore PTE. LTD.’s portfolio, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRVL. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 11.2 %

MRVL stock opened at $49.43 on Friday. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business’s 50 day moving average price is $87.42 and its two-hundred day moving average price is $93.08. Marvell Technology, Inc. has a fifty-two week low of $47.31 and a fifty-two week high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,185 shares of company stock worth $3,744,268. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MRVL shares. Citigroup cut their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Piper Sandler reduced their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday, March 6th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three equities research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

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.