Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,382,067 shares of the semiconductor company’s stock after selling 849,425 shares during the quarter. Janus Henderson Group PLC owned about 1.40% of Marvell Technology worth $893,012,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its holdings in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Marvell Technology by 3.0% during the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Marvell Technology by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company’s stock worth $268,711,000 after purchasing an additional 25,983 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,000 shares of company stock valued at $20,899,260. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 4.5 %

Shares of MRVL stock opened at $96.86 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The business has a 50 day moving average of $83.01 and a two-hundred day moving average of $74.56. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $97.63.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

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.