Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Lowered by Swedbank AB

Swedbank AB lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,171,134 shares of the semiconductor company’s stock after selling 186,561 shares during the period. Swedbank AB’s holdings in Marvell Technology were worth $239,802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Forsta AP Fonden raised its holdings in Marvell Technology by 8.0% during the 4th quarter. Forsta AP Fonden now owns 195,300 shares of the semiconductor company’s stock worth $21,571,000 after buying an additional 14,500 shares during the period. Smith Group Asset Management LLC bought a new position in Marvell Technology during the fourth quarter worth $28,557,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Marvell Technology by 118.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 309,669 shares of the semiconductor company’s stock worth $34,203,000 after purchasing an additional 167,675 shares in the last quarter. Wealth Effects LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $387,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth approximately $387,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 0.7 %

Shares of MRVL stock traded up $0.76 during trading on Wednesday, hitting $104.64. 2,954,430 shares of the stock traded hands, compared to its average volume of 12,383,174. The firm has a market capitalization of $90.54 billion, a P/E ratio of -61.59, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week 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 firm’s fifty day moving average price is $110.63 and its 200-day moving average price is $86.85.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Marvell Technology’s payout ratio is currently -14.12%.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 over the last 90 days. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MRVL shares. KeyCorp boosted their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. B. Riley raised their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC boosted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays lifted their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.60.

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.