Deutsche Bank AG Has $196.60 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Deutsche Bank AG reduced its holdings in Marvell Technology, Inc. by 19.9%, owning approximately 3.19 million shares valued at $196.6 million as of the latest filing.
• Various institutional investors, including Capital Analysts LLC and Johnson Financial Group Inc., have significantly increased their holdings in Marvell during recent quarters, with 83.51% of the stock currently owned by institutional investors and hedge funds.
• Analyst ratings for Marvell Technology show a mix of optimism and caution, with an average target price of $94.70 and a consensus rating of "Moderate Buy" amid differing views on the stock's future performance.

Deutsche Bank AG decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 19.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,193,183 shares of the semiconductor company's stock after selling 794,105 shares during the period. Deutsche Bank AG owned about 0.37% of Marvell Technology worth $196,604,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Marvell Technology by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,596,687 shares of the semiconductor company's stock valued at $221,448,000 after purchasing an additional 168,942 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Marvell Technology in the first quarter worth approximately $4,736,000. Citizens Financial Group Inc. RI increased its holdings in Marvell Technology by 4.0% in the first 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 last quarter. Primecap Management Co. CA increased its holdings in Marvell Technology by 3.2% in the first 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 last quarter. Finally, Vanguard Group Inc. increased its holdings in Marvell Technology by 1.9% in the first 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 last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on MRVL. Needham & Company LLC downgraded Marvell Technology from a "buy" rating to a "cautious" rating in a report on Wednesday, July 16th. Morgan Stanley restated an "equal weight" rating on shares of Marvell Technology in a report on Friday. Barclays dropped their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Cantor Fitzgerald increased their price objective on Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $94.70.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the transaction, the chief financial officer directly owned 121,348 shares of the company's stock, valued at approximately $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,434 shares of company stock valued at $1,097,826 in the last ninety days. 0.19% of the stock is owned by company insiders.

Marvell Technology Stock Performance

MRVL stock traded up $1.49 during midday trading on Friday, hitting $77.34. The stock had a trading volume of 9,947,838 shares, compared to its average volume of 16,874,638. The firm has a market capitalization of $66.81 billion, a price-to-earnings ratio of -135.68, a P/E/G ratio of 0.84 and a beta of 1.83. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The stock has a 50-day simple moving average of $72.98 and a 200 day simple moving average of $74.44. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

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

Marvell Technology Announces Dividend

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