GAMMA Investing LLC Has $908,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

GAMMA Investing LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,224 shares of the semiconductor company’s stock after buying an additional 891 shares during the period. GAMMA Investing LLC’s holdings in Marvell Technology were worth $908,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd lifted its position in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology during the third quarter valued at about $120,116,000. Van ECK Associates Corp grew its position in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. bought a new position in shares of Marvell Technology in the second quarter worth about $108,204,000. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,500 shares of company stock valued at $14,267,670 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Marvell Technology Trading Up 4.1 %

Shares of MRVL opened at $118.18 on Friday. 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 company has a market cap of $102.26 billion, a price-to-earnings ratio of -69.52, a PEG ratio of 4.03 and a beta of 1.41. The stock has a fifty day moving average price of $100.53 and a two-hundred day moving average price of $81.26. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MRVL shares. Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays raised their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald lifted their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.76.

Marvell Technology 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.