ASR Vermogensbeheer N.V. Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• ASR Vermogensbeheer N.V. purchased 76,920 shares of Marvell Technology, Inc., valued at approximately $4.736 million, during the 1st quarter.
• Approximately 83.51% of Marvell's stock is owned by institutional investors and hedge funds, with several firms increasing their stakes in recent months.
• According to analysts, Marvell Technology has a consensus rating of "Moderate Buy," with an average target price of $94.70.

ASR Vermogensbeheer N.V. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 76,920 shares of the semiconductor company's stock, valued at approximately $4,736,000.

Several other large investors have also added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its stake in Marvell Technology by 4.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 14,284 shares of the semiconductor company's stock worth $879,000 after buying an additional 551 shares during the period. Primecap Management Co. CA raised its stake in Marvell Technology by 3.2% during the 1st quarter. Primecap Management Co. CA now owns 2,164,730 shares of the semiconductor company's stock worth $133,282,000 after buying an additional 66,300 shares during the period. Vanguard Group Inc. raised its stake in Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after buying an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. raised its stake in Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in Marvell Technology by 70.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 876,710 shares of the semiconductor company's stock worth $53,979,000 after buying an additional 363,191 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MRVL shares. Evercore ISI dropped their price target on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Rosenblatt Securities reiterated a "buy" rating and set a $124.00 price target on shares of Marvell Technology in a research note on Wednesday, June 18th. Raymond James Financial reiterated an "outperform" rating and set a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Wall Street Zen upgraded Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Needham & Company LLC downgraded Marvell Technology from a "buy" rating to a "cautious" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has an average rating of "Moderate Buy" and a consensus target price of $94.70.

Insider Transactions at Marvell Technology

In related news, CAO Panteha Dixon sold 1,286 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the transaction, the chief accounting officer directly owned 32,094 shares of the company's stock, valued at approximately $2,086,110. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,434 shares of company stock valued at $1,097,826. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded up $1.49 on Friday, reaching $77.34. The stock had a trading volume of 9,947,838 shares, compared to its average volume of 16,874,638. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The company has a market cap of $66.81 billion, a P/E ratio of -135.68, a price-to-earnings-growth ratio of 0.82 and a beta of 1.83. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The business's 50 day moving average is $72.98 and its two-hundred day moving average is $74.79.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The company's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

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.