Mn Services Vermogensbeheer B.V. Has $23.82 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 340,832 shares of the semiconductor company’s stock after selling 8,700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Marvell Technology were worth $23,824,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bruce G. Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $31,000. Optimum Investment Advisors bought a new stake in Marvell Technology in the first quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Marvell Technology during the 1st quarter worth $35,000. Finally, Bogart Wealth LLC raised its holdings in shares of Marvell Technology by 1,480.0% during the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 592 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on MRVL. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, May 31st. B. Riley boosted their target price on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Oppenheimer reiterated an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. KeyCorp boosted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $85.50.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the transaction, the chief financial officer now directly owns 109,318 shares in the company, valued at approximately $8,076,413.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now directly owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the insider now owns 838,571 shares in the company, valued at $62,892,825. The disclosure for this sale can be found here. Insiders sold a total of 65,500 shares of company stock valued at $4,872,620 over the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL traded up $3.18 on Friday, reaching $71.84. The company’s stock had a trading volume of 12,982,763 shares, compared to its average volume of 12,507,469. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $62.18 billion, a PE ratio of -63.58, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47. The business has a 50-day moving average price of $68.15 and a 200 day moving average price of $69.44.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. Sell-side analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

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.