Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 389,637 shares of the semiconductor company’s stock after buying an additional 4,866 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Marvell Technology were worth $27,236,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MRVL. Bruce G. Allen Investments LLC boosted its position in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the period. Salomon & Ludwin LLC acquired a new position in Marvell Technology in the first quarter valued at $31,000. Optimum Investment Advisors purchased a new stake in shares of Marvell Technology during the first quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC purchased a new position in Marvell Technology in the first quarter worth $35,000. Finally, Bogart Wealth LLC grew its holdings in shares of Marvell Technology by 1,480.0% in the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 592 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 4.6 %

Shares of NASDAQ:MRVL opened at $74.89 on Thursday. The stock has a market capitalization of $64.82 billion, a price-to-earnings ratio of -66.27, a PEG ratio of 2.91 and a beta of 1.46. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a 50 day moving average price of $68.11 and a 200 day moving average price of $69.66. 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 (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The company 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%. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a $0.06 dividend. The ex-dividend date was Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Buying and Selling

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the sale, the insider now owns 838,571 shares in the company, valued at $62,892,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $369,400.00. Following the transaction, the executive vice president now owns 110,318 shares in the company, valued at approximately $8,150,293.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,500 shares of company stock valued at $4,872,620. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $90.00 target price (up from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. KeyCorp increased their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Morgan Stanley raised their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Finally, StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.62.

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.