Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 17,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,147 shares of the semiconductor company’s stock after selling 17,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Marvell Technology were worth $10,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Marvell Technology in the 4th quarter valued at about $234,000. Dynamic Advisor Solutions LLC grew its position in shares of Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company’s stock valued at $266,000 after acquiring an additional 206 shares during the period. Yousif Capital Management LLC grew its position in shares of Marvell Technology by 8.4% in the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company’s stock valued at $927,000 after acquiring an additional 1,164 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the period. Finally, Sargent Investment Group LLC boosted its holdings in shares of Marvell Technology by 55.7% during the 1st quarter. Sargent Investment Group LLC now owns 13,392 shares of the semiconductor company’s stock worth $825,000 after buying an additional 4,792 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the sale, the executive vice president directly owned 17,163 shares of the company’s stock, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,283 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the sale, the chief accounting officer directly owned 29,572 shares in the company, valued at $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,409 shares of company stock worth $445,964 in the last three months. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

MRVL stock opened at $79.04 on Friday. The company has a 50 day simple moving average of $74.14 and a 200 day simple moving average of $73.68. The stock has a market cap of $68.28 billion, a price-to-earnings ratio of -138.67, a P/E/G ratio of 0.86 and a beta of 1.83. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The firm’s quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. Research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology’s dividend payout ratio is currently -42.11%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MRVL shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a report on Friday, August 8th. Melius Research lifted their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a “hold” rating in a report on Wednesday, June 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Benchmark reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $94.70.

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.