Royal London Asset Management Ltd. Purchases 16,442 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Royal London Asset Management Ltd. increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,079 shares of the semiconductor company's stock after purchasing an additional 16,442 shares during the period. Royal London Asset Management Ltd.'s holdings in Marvell Technology were worth $29,286,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its stake in Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company's stock valued at $566,000 after acquiring an additional 116 shares during the last quarter. Crumly & Associates Inc. boosted its position in shares of Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company's stock worth $593,000 after purchasing an additional 121 shares during the last quarter. United Capital Management of KS Inc. boosted its position in shares of Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company's stock worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company's stock worth $716,000 after purchasing an additional 139 shares during the period. Finally, ASB Consultores LLC lifted its stake in Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company's stock valued at $276,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MRVL shares. UBS Group upped their price target on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America boosted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday. Stifel Nicolaus reissued a "buy" rating and set a $125.00 price target (up from $114.00) on shares of Marvell Technology in a research report on Wednesday. B. Riley boosted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday. Finally, StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.04.

Insider Activity

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company's stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 in the last quarter. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded up $0.14 on Friday, reaching $113.51. 13,771,877 shares of the company were exchanged, compared to its average volume of 12,026,631. Marvell Technology, Inc. has a one year low of $50.56 and a one year high of $119.88. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $86.09 and a 200 day moving average of $75.57.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology's dividend payout ratio is currently -14.12%.

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.