Rathbones Group PLC Has $88.80 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Rathbones Group PLC cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 803,947 shares of the semiconductor company's stock after selling 5,778 shares during the quarter. Rathbones Group PLC owned approximately 0.09% of Marvell Technology worth $88,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MRVL. Invesco Ltd. lifted its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after purchasing an additional 80,005 shares in the last quarter. Norges Bank acquired a new position in Marvell Technology during the fourth quarter worth $1,138,354,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company's stock valued at $838,617,000 after buying an additional 1,691,242 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler lowered their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Stifel Nicolaus reduced their price objective on shares of Marvell Technology from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Bank of America cut their target price on shares of Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,185 shares of company stock valued at $3,131,018. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of MRVL traded down $0.21 during mid-day trading on Friday, reaching $52.60. The company had a trading volume of 8,112,759 shares, compared to its average volume of 13,443,736. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $45.56 billion, a P/E ratio of -30.72, a P/E/G ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company's 50-day moving average is $80.99 and its 200-day moving average is $92.17.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.46%. Marvell Technology's dividend payout ratio is currently -23.53%.

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.