AEGON ASSET MANAGEMENT UK Plc Lowers Position in Marvell Technology, Inc. (NASDAQ:MRVL)

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 25.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,347 shares of the semiconductor company’s stock after selling 51,378 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Marvell Technology were worth $16,495,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of Marvell Technology by 20.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,818 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 305 shares in the last quarter. AQR Capital Management LLC increased its stake in Marvell Technology by 597.5% in the second quarter. AQR Capital Management LLC now owns 437,771 shares of the semiconductor company’s stock valued at $30,600,000 after acquiring an additional 375,012 shares during the last quarter. APG Asset Management N.V. raised its position in Marvell Technology by 16.9% during the second quarter. APG Asset Management N.V. now owns 605,167 shares of the semiconductor company’s stock valued at $39,469,000 after purchasing an additional 87,580 shares in the last quarter. MBB Public Markets I LLC lifted its stake in Marvell Technology by 183.9% during the second quarter. MBB Public Markets I LLC now owns 125,655 shares of the semiconductor company’s stock worth $8,783,000 after purchasing an additional 81,401 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Marvell Technology by 18.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,053,967 shares of the semiconductor company’s stock worth $73,672,000 after purchasing an additional 164,250 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,361,430 over the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $124.02 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The business’s fifty day simple moving average is $110.11 and its two-hundred day simple moving average is $86.27.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Analysts Set New Price Targets

A number of research analysts have commented on MRVL shares. Barclays increased their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. KeyCorp increased their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Needham & Company LLC increased their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Bank of America lifted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $125.38.

About Marvell Technology

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.