Robeco Institutional Asset Management B.V. Grows Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Robeco Institutional Asset Management B.V. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 83.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,994 shares of the semiconductor company’s stock after buying an additional 64,465 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Marvell Technology were worth $10,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Tlwm grew its holdings in Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares during the last quarter. New Century Financial Group LLC grew its stake in shares of Marvell Technology by 3.0% during the third quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 156 shares during the last quarter. Parisi Gray Wealth Management raised its holdings in shares of Marvell Technology by 4.2% in the third quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock worth $300,000 after buying an additional 166 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Marvell Technology by 0.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after acquiring an additional 168 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in Marvell Technology by 1.2% during the 2nd quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock valued at $1,019,000 after acquiring an additional 169 shares during the period. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley boosted their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Rosenblatt Securities raised their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Activity

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock valued at $20,330,835 in the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 3.7 %

Shares of Marvell Technology stock opened at $93.94 on Friday. The firm’s 50 day simple moving average is $76.53 and its two-hundred day simple moving average is $71.65. The firm has a market capitalization of $83.25 billion, a price-to-earnings ratio of -84.63, a PEG ratio of 3.67 and a beta of 1.44. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $94.07. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

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

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s payout ratio is -21.62%.

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.