Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,080 shares of the semiconductor company's stock after selling 182,387 shares during the quarter. Marvell Technology accounts for approximately 1.1% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings, making the stock its 27th largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Marvell Technology were worth $5,423,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Marvell Technology during the 4th quarter valued at approximately $234,000. Dynamic Advisor Solutions LLC raised its holdings in shares of Marvell Technology by 5.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after purchasing an additional 206 shares during the last quarter. Yousif Capital Management LLC lifted its position in Marvell Technology by 8.4% during the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after purchasing an additional 1,164 shares during the period. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Marvell Technology in the fourth quarter valued at $46,389,000. Finally, Sargent Investment Group LLC boosted its holdings in Marvell Technology by 55.7% in the first quarter. Sargent Investment Group LLC now owns 13,392 shares of the semiconductor company's stock valued at $825,000 after purchasing an additional 4,792 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 1.5%

Shares of NASDAQ MRVL traded down $1.07 during mid-day trading on Tuesday, hitting $71.99. The company had a trading volume of 12,150,260 shares, compared to its average volume of 15,927,245. The company has a market capitalization of $62.19 billion, a PE ratio of -126.30, a price-to-earnings-growth ratio of 0.79 and a beta of 1.81. The business's 50-day simple moving average is $69.41 and its 200 day simple moving average is $78.31. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Marvell Technology's revenue for the quarter was up 63.3% compared to the same quarter last year. On average, analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology's payout ratio is -42.11%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business's 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's 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 sale, the chief financial officer owned 121,348 shares of the company's stock, valued at $8,314,764.96. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,394 shares of company stock worth $1,873,126 in the last 90 days. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of analyst reports. Barclays decreased their price objective 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. Piper Sandler reaffirmed an "overweight" rating and issued a $85.00 price target (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Melius lowered Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a report on Thursday, May 22nd. China Renaissance started coverage on Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Needham & Company LLC lowered Marvell Technology from a "buy" rating to a "cautious" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $94.47.

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.