Mn Services Vermogensbeheer B.V. Has $19.43 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Mn Services Vermogensbeheer B.V. lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,532 shares of the semiconductor company's stock after selling 27,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Marvell Technology were worth $19,427,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth about $27,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology during the 4th quarter worth about $35,000. Capital Analysts LLC lifted its stake in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 241 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research analyst reports. TD Cowen upped their target price on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Rosenblatt Securities reiterated a "buy" rating and issued a $124.00 price target on shares of Marvell Technology in a research report on Friday, May 30th. B. Riley reduced their price objective on shares of Marvell Technology from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus target price of $94.73.

Marvell Technology Stock Performance

MRVL stock traded up $3.23 during mid-day trading on Monday, hitting $70.42. 19,660,606 shares of the company were exchanged, compared to its average volume of 14,784,791. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The stock has a market capitalization of $60.83 billion, a PE ratio of -41.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. The business has a 50 day simple moving average of $60.30 and a 200-day simple moving average of $85.13. 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 released its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The business 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 4.59% and a negative net margin of 27.49%. The firm's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. On average, equities analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology's dividend payout ratio is presently -42.11%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,286 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 32,094 shares of the company's stock, valued at $2,086,110. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,611 shares of company stock valued at $1,465,411 over the last quarter. 0.19% of the stock is owned by company insiders.

Marvell Technology 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.