Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 185.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 884,334 shares of the semiconductor company's stock after purchasing an additional 574,665 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.10% of Marvell Technology worth $54,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank Pictet & Cie Europe AG boosted its position in shares of Marvell Technology by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after acquiring an additional 460 shares in the last quarter. Principal Financial Group Inc. grew its position in Marvell Technology by 385.7% in the 4th quarter. Principal Financial Group Inc. now owns 135,258 shares of the semiconductor company's stock valued at $14,939,000 after buying an additional 107,410 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Marvell Technology by 14.5% in the fourth quarter. IFP Advisors Inc now owns 6,315 shares of the semiconductor company's stock valued at $697,000 after acquiring an additional 801 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Marvell Technology by 110.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,928 shares of the semiconductor company's stock worth $1,097,000 after purchasing an additional 5,208 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new position in Marvell Technology during the fourth quarter worth $328,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

MRVL stock opened at $79.97 on Friday. The firm has a market cap of $69.08 billion, a P/E ratio of -140.30, a P/E/G ratio of 0.82 and a beta of 1.76. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The stock's 50 day simple moving average is $63.87 and its 200 day simple moving average is $83.46. 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 posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion for 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%. The firm's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. As a group, equities research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRVL. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Citigroup reduced their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Melius lowered Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Susquehanna lowered their price target on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research report on Tuesday, May 27th. Six research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Insider Buying and Selling

In other news, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,286 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $65.00, for a total value of $83,590.00. Following the completion of the transaction, the chief accounting officer now directly owns 32,094 shares in the company, valued at $2,086,110. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

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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