Mn Services Vermogensbeheer B.V. Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Mn Services Vermogensbeheer B.V. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,532 shares of the semiconductor company’s stock after selling 27,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Marvell Technology were worth $19,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Intrepid Financial Planning Group LLC lifted its position in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc raised its stake in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 92 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares during the last quarter. Tradewinds LLC. lifted its holdings in shares of Marvell Technology by 0.7% during the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company’s stock worth $1,552,000 after purchasing an additional 101 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in Marvell Technology by 19.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 112 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the transaction, the chief financial officer now owns 124,348 shares in the company, valued at approximately $7,460,880. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,611 shares of company stock valued at $1,465,411. Insiders own 0.19% of the company’s stock.

Marvell Technology Trading Down 3.5%

Shares of MRVL stock opened at $67.19 on Monday. The company has a market capitalization of $58.04 billion, a price-to-earnings ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $60.30 and a 200 day moving average price of $85.13. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The company’s revenue was up 63.3% on a year-over-year basis. Research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is -42.11%.

Analyst Ratings Changes

Several research firms have recently commented on MRVL. Bank of America reduced their target price on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. B. Riley cut their price target on shares of Marvell Technology from $135.00 to $110.00 and set a “buy” rating for the company in a report on Monday, May 19th. Stifel Nicolaus reduced their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Raymond James reiterated an “outperform” rating and set a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Morgan Stanley increased their target price on Marvell Technology from $70.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.73.

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.