Melqart Asset Management UK Ltd Has $14.19 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Melqart Asset Management UK Ltd decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 59.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,763 shares of the semiconductor company’s stock after selling 286,163 shares during the period. Marvell Technology accounts for approximately 1.3% of Melqart Asset Management UK Ltd’s holdings, making the stock its 22nd biggest holding. Melqart Asset Management UK Ltd’s holdings in Marvell Technology were worth $14,191,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Davidson Kempner Capital Management LP raised its position in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Marvell Technology during the 3rd quarter worth about $16,435,000. Charles Schwab Investment Management Inc. raised its holdings in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Diversified Trust Co acquired a new position in Marvell Technology during the 2nd quarter valued at about $932,000. Finally, Silicon Valley Capital Partners boosted its stake in shares of Marvell Technology by 254.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after purchasing an additional 23,678 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 1.0 %

NASDAQ MRVL opened at $95.91 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $98.72. The stock has a market capitalization of $85.00 billion, a price-to-earnings ratio of -86.41, a PEG ratio of 4.19 and a beta of 1.46. The stock’s 50 day moving average price is $83.50 and its two-hundred day moving average price is $74.73.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Analyst Ratings Changes

Several equities analysts recently weighed in on MRVL shares. Morgan Stanley increased their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Susquehanna increased their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. Oppenheimer lifted their price objective on Marvell Technology from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Benchmark upped their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities raised their target price on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 in the last quarter. Corporate 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.