Siemens Fonds Invest GmbH Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Siemens Fonds Invest GmbH lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 93.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,790 shares of the semiconductor company's stock after selling 27,676 shares during the period. Siemens Fonds Invest GmbH's holdings in Marvell Technology were worth $198,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MRVL. PFG Investments LLC increased its holdings in Marvell Technology by 43.8% during the fourth quarter. PFG Investments LLC now owns 4,373 shares of the semiconductor company's stock worth $483,000 after buying an additional 1,332 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Marvell Technology during the fourth quarter worth about $16,699,000. Foundations Investment Advisors LLC bought a new position in Marvell Technology during the fourth quarter worth about $339,000. Perigon Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth about $387,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Marvell Technology by 118.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 309,669 shares of the semiconductor company's stock worth $34,203,000 after purchasing an additional 167,675 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of MRVL stock traded up $0.89 during trading hours on Tuesday, hitting $62.36. 19,010,055 shares of the company's stock were exchanged, compared to its average volume of 14,491,896. The company has a market capitalization of $53.87 billion, a PE ratio of -36.68, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The business's 50 day simple moving average is $58.56 and its 200-day simple moving average is $86.46. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The business's revenue was up 63.3% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 626 shares of Marvell Technology stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president now directly owns 626 shares of the company's stock, valued at $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MRVL shares. Wells Fargo & Company cut their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday. Barclays cut their target price on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Bank of America cut their target price on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. UBS Group reiterated a "buy" rating on shares of Marvell Technology in a research report on Monday. Finally, Susquehanna cut their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $94.21.

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.