Robeco Schweiz AG Sells 425,500 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Robeco Schweiz AG lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 25.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,273,400 shares of the semiconductor company’s stock after selling 425,500 shares during the period. Marvell Technology accounts for about 3.0% of Robeco Schweiz AG’s holdings, making the stock its 5th biggest position. Robeco Schweiz AG owned approximately 0.15% of Marvell Technology worth $140,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MRVL. Temasek Holdings Private Ltd boosted its stake in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $120,116,000. Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Perpetual Ltd boosted its stake in shares of Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after acquiring an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $94.90 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a 50-day moving average of $112.46 and a two-hundred day moving average of $93.00. The stock has a market cap of $82.12 billion, a P/E ratio of -55.82, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MRVL shares. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Cantor Fitzgerald upped their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

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.