River Global Investors LLP Reduces Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

River Global Investors LLP cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 37.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,636 shares of the semiconductor company's stock after selling 14,664 shares during the quarter. River Global Investors LLP's holdings in Marvell Technology were worth $2,721,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Marvell Technology during the fourth quarter valued at about $366,896,000. Temasek Holdings Private Ltd grew its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock valued at $161,555,000 after buying an additional 1,911,532 shares during the period. Holocene Advisors LP bought a new position in Marvell Technology during the third quarter valued at about $120,116,000. Perpetual Ltd grew its position in Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company's stock valued at $77,591,000 after buying an additional 682,457 shares during the period. Finally, Nordea Investment Management AB grew its position in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company's stock valued at $518,435,000 after buying an additional 571,005 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. Insiders own 0.33% of the company's stock.

Remove Ads

Marvell Technology Price Performance

Shares of MRVL stock traded down $1.44 during trading on Friday, hitting $70.84. The company had a trading volume of 38,787,463 shares, compared to its average volume of 12,675,750. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average is $108.27 and its two-hundred day moving average is $93.84. The stock has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Analysts Set New Price Targets

MRVL has been the subject of several research reports. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday. Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. TD Cowen dropped their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday. Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Finally, StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $121.68.

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.