Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Increased by APG Asset Management N.V.

APG Asset Management N.V. raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 16.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 605,167 shares of the semiconductor company’s stock after buying an additional 87,580 shares during the period. APG Asset Management N.V. owned about 0.07% of Marvell Technology worth $39,469,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP grew its holdings in shares of Marvell Technology by 26.5% in the 2nd 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. Diversified Trust Co acquired a new stake in Marvell Technology during the 2nd quarter worth about $932,000. Orion Portfolio Solutions LLC lifted its stake in Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after buying an additional 10,306 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Marvell Technology by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after buying an additional 88,918 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Marvell Technology in the first quarter worth approximately $6,985,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. B. Riley raised their price objective on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Evercore ISI lifted their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, KeyCorp increased their price target 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. Two 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Trading Down 3.3 %

Shares of MRVL stock opened at $70.99 on Friday. The business’s 50 day moving average is $68.33 and its two-hundred day moving average is $69.54. 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, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company has a market cap of $61.45 billion, a PE ratio of -62.82, a price-to-earnings-growth ratio of 3.12 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the transaction, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.00. Following the completion of the transaction, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock worth $11,878,785 over the last three months. 0.33% of the stock is currently owned by insiders.

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.