Robeco Institutional Asset Management BV reduced its position in Marvell Technology, Inc. (NASDAQ: MRVL – Get Rating ) by 38.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,829 shares of the semiconductor company’s stock after selling 128,591 shares during the period. Robeco Institutional Asset Management BV’s holdings in Marvell Technology were worth $8,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC bought a new position in Marvell Technology in the third quarter worth $26,000. Worth Asset Management LLC bought a new position in Marvell Technology in the first quarter worth $40,000. TimeScale Financial Inc. raised its stake in Marvell Technology by 2,480.6% in the third quarter. TimeScale Financial Inc. now owns 800 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 769 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in Marvell Technology during the third quarter valued at $35,000. Finally, Asset Dedication LLC purchased a new position in Marvell Technology during the 3rd quarter valued at $35,000. Hedge Funds & Other Institutional Investors owns 81.28% of the company’s shares.
Insiders place their bets
In other news, EVP Dan Christman sold 6,778 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $46.05, for a total transaction of $312,126.90. Following the sale, the executive vice president now owns 85,425 shares of the company’s stock, valued at approximately $3,933,821.25. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In other news, EVP Dan Christman sold 6,778 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $46.05, for a total transaction of $312,126.90. Following the sale, the executive vice president now owns 85,425 shares of the company’s stock, valued at approximately $3,933,821.25. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, insider Muhammad Raghib Hussain sold 46,200 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $42.22, for a total transaction of $1,950,564.00. Following the sale, the insider now directly owns 757,342 shares in the company, valued at approximately $31,974,979.24. Disclosure of this sale can be found here. Insiders have sold 68,978 shares of company stock valued at $2,881,891 over the last ninety days. 0.45% of shares are currently owned by corporate insiders.
Marvell Technology Trading down 1.0%
MRVL opened at $39.97 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 0.93. The company’s 50-day simple moving average is $42.73, and its two-hundred-day simple moving average is $42.12. Marvell Technology, Inc. has a 1-year low of $33.75 and a 1-year high of $76.59. The firm has a market cap of $34.25 billion, a price-to-earnings ratio of -210.37, a price-to-earnings-growth ratio of 11.74 and a beta of 1.47.
Marvell Technology (NASDAQ:MRVL – Get Rating) last posted its earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Marvell Technology has a positive return on equity of 8.46% and a negative net margin of 2.76%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect Marvell Technology, Inc. to post 0.96 EPS for the current fiscal year.
Marvell Technology announces dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Friday, April 7th will be paid a $0.06 dividend. This represents an annualized dividend of $0.24 and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, April 5th. Marvell Technology’s dividend payout ratio (DPR) is -126.32%.
The Wall Street analyst weighs in
A number of brokerages recently issued reports on MRVL. Craig Hallum decreased their target price on Marvell Technology from $90.00 to $63.00 in a research note on Friday, December 2nd. Morgan Stanley boosted their target price on Marvell Technology from $41.00 to $45.00 in a research report on Friday, March 3rd. Raymond James began coverage on Marvell Technology in a research report on Wednesday, March 1st. They set an “outperform” rating and a $54.00 target price on the stock. Piper Sandler cut their target price on Marvell Technology from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Marvell Technology from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.54, based on data from MarketBeat.com.
Marvell Technology Profile
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Marvell Technology, Inc is committed to providing semiconductor solutions for data infrastructure. It offers compute, networking, storage and custom solutions. The company designs, develops and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja and Sehat Sutardja in 1995 and is headquartered in Wilmington, Delaware.
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