Robeco Institutional Asset Management B.V. Acquires 64,465 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 83.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 141,994 shares of the semiconductor company's stock after purchasing an additional 64,465 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Marvell Technology were worth $10,241,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Marvell Technology in the 2nd quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. boosted its stake in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 210 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology in the first quarter worth approximately $35,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company's stock worth $44,000 after buying an additional 336 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

MRVL stock traded down $0.07 during trading on Friday, reaching $93.87. The company's stock had a trading volume of 5,573,891 shares, compared to its average volume of 12,194,956. The company's fifty day moving average is $76.53 and its 200-day moving average is $71.65. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The company has a market capitalization of $83.19 billion, a P/E ratio of -84.63, a price-to-earnings-growth ratio of 3.67 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the firm earned $0.18 EPS. The firm's revenue was down 5.1% compared to the same quarter last year. On average, research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology's payout ratio is presently -21.62%.

Analyst Ratings Changes

Several brokerages have weighed in on MRVL. Morgan Stanley increased their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, August 30th. Benchmark raised their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Rosenblatt Securities upped their price target on Marvell Technology from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Barclays increased their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Finally, Piper Sandler restated an "overweight" rating and set a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.62.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Matthew J. Murphy acquired 13,000 shares of the company's stock in a transaction on Monday, October 14th. The stock was bought at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the purchase, the chief executive officer now directly owns 221,915 shares of the company's stock, valued at $17,227,261.45. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock worth $20,330,835 in the last quarter. 0.33% of the stock is owned by corporate insiders.

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.