Fjarde AP Fonden Fourth Swedish National Pension Fund Has $10.48 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,147 shares of the semiconductor company's stock after selling 17,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Marvell Technology were worth $10,476,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Marvell Technology in the first quarter worth about $26,000. Rossby Financial LCC bought a new position in shares of Marvell Technology in the first quarter valued at approximately $27,000. Financial Connections Group Inc. grew its position in Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 388 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Marvell Technology during the 1st quarter worth approximately $28,000. Finally, Security National Bank acquired a new stake in Marvell Technology during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Down 0.4%

Shares of NASDAQ:MRVL opened at $79.04 on Friday. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The company's fifty day simple moving average is $74.14 and its 200 day simple moving average is $73.68. The firm has a market cap of $68.28 billion, a price-to-earnings ratio of -138.67, a PEG ratio of 0.86 and a beta of 1.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business posted $0.24 earnings per share. The firm's quarterly revenue was up 63.3% on a year-over-year basis. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology's payout ratio is presently -42.11%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares in the company, valued at $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,409 shares of company stock worth $445,964. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MRVL. The Goldman Sachs Group started coverage on Marvell Technology in a research note on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price objective on the stock. Bank of America raised their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Loop Capital reduced their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Morgan Stanley reissued an "equal weight" rating on shares of Marvell Technology in a research note on Friday, August 8th. Finally, Raymond James Financial reissued an "outperform" rating and set a $90.00 price target (down from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $94.70.

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.

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