Swedbank AB Has $170.04 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Swedbank AB grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,357,695 shares of the semiconductor company’s stock after buying an additional 23,680 shares during the quarter. Swedbank AB owned approximately 0.27% of Marvell Technology worth $170,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MRVL. NBC Securities Inc. lifted its holdings in Marvell Technology by 20.5% in the 3rd quarter. NBC Securities Inc. now owns 2,466 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 419 shares during the last quarter. Creative Planning lifted its holdings in shares of Marvell Technology by 37.5% during the third quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after buying an additional 28,286 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of Marvell Technology by 131.2% during the third quarter. Wesbanco Bank Inc. now owns 41,415 shares of the semiconductor company’s stock worth $2,987,000 after buying an additional 23,500 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Marvell Technology by 320.3% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 5,418 shares of the semiconductor company’s stock worth $391,000 after buying an additional 4,129 shares during the last quarter. Finally, Sunflower Bank N.A. acquired a new position in shares of Marvell Technology during the third quarter worth approximately $207,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock traded up $2.59 during midday trading on Tuesday, reaching $80.27. 16,956,834 shares of the company’s stock traded hands, compared to its average volume of 12,349,829. The company has a 50-day simple moving average of $70.30 and a two-hundred day simple moving average of $69.98. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a market cap of $69.48 billion, a price-to-earnings ratio of -68.74, a PEG ratio of 3.17 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. On average, analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.30%. Marvell Technology’s dividend payout ratio is currently -21.24%.

Analyst Ratings Changes

MRVL has been the subject of a number of research analyst reports. Barclays upped their price target on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Morgan Stanley upped their price target on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. KeyCorp upped their target price on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities lifted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.62.

Insider Transactions at Marvell Technology

In related news, CEO Matthew J. Murphy purchased 13,000 shares of Marvell Technology stock in a transaction dated Monday, October 14th. The shares were acquired at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the transaction, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Marvell Technology news, CEO Matthew J. Murphy bought 13,000 shares of Marvell Technology stock in a transaction on Monday, October 14th. The shares were purchased at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,500 shares of company stock worth $7,650,465 in the last three months. Insiders own 0.33% of the company’s stock.

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.