Royal London Asset Management Ltd. Has $45.46 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Royal London Asset Management Ltd. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 411,584 shares of the semiconductor company's stock after buying an additional 5,505 shares during the period. Royal London Asset Management Ltd.'s holdings in Marvell Technology were worth $45,459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Generali Investments Management Co LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth about $626,000. Vinva Investment Management Ltd raised its stake in shares of Marvell Technology by 10.0% in the 4th quarter. Vinva Investment Management Ltd now owns 43,572 shares of the semiconductor company's stock valued at $4,865,000 after acquiring an additional 3,954 shares in the last quarter. Xponance Inc. lifted its holdings in Marvell Technology by 21.1% in the 4th quarter. Xponance Inc. now owns 99,811 shares of the semiconductor company's stock worth $11,024,000 after purchasing an additional 17,419 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in Marvell Technology during the fourth quarter worth approximately $6,550,000. Finally, Evoke Wealth LLC grew its holdings in Marvell Technology by 47.1% during the fourth quarter. Evoke Wealth LLC now owns 4,999 shares of the semiconductor company's stock valued at $552,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

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Marvell Technology Price Performance

NASDAQ:MRVL traded up $2.37 on Monday, reaching $72.76. The stock had a trading volume of 12,177,019 shares, compared to its average volume of 12,604,474. The company has a market capitalization of $63.01 billion, a P/E ratio of -42.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock has a fifty day moving average price of $99.06 and a 200-day moving average price of $93.85. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology's dividend payout ratio is -23.53%.

Analyst Ratings Changes

Several research firms recently issued reports on MRVL. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Stifel Nicolaus lowered their price target on Marvell Technology from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Evercore ISI boosted their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. Finally, Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $120.44.

Insider Activity

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company's stock, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares of the company's stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by corporate 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.