Royal London Asset Management Ltd. Increases Stake in Marvell Technology

Royal London Asset Management Ltd. has increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.2% during the third quarter. This information was revealed in the company's latest filing with the Securities & Exchange Commission. As a result of this purchase, Royal London Asset Management now owns a total of 406,079 shares of the semiconductor company's stock, having added 16,442 shares throughout the quarter. The total value of Royal London's holdings in Marvell is approximately $29,286,000.

Other institutional investors have also adjusted their holdings in Marvell Technology. For instance, Citizens Financial Group Inc. RI increased its position by 1.5% during the third quarter, now owning 7,842 shares valued at $566,000 after purchasing an additional 116 shares. Similarly, Crumly & Associates Inc. also raised its stake by 1.5% in the same period, bringing its total to 8,223 shares worth $593,000 after acquiring 121 shares. United Capital Management of KS Inc. added 0.4% to its holdings, now owning 34,251 shares worth $2,470,000 after purchasing an additional 131 shares. Integrated Wealth Concepts LLC also raised its investment by 1.4%, owning 9,931 shares valued at $716,000 after acquiring 139 shares. Lastly, ASB Consultores LLC increased its stake by 3.8% and now owns 3,824 shares valued at $276,000 after buying 140 shares. In total, hedge funds and institutional investors hold 83.51% of Marvell Technology's stock.

Stock Performance of Marvell Technology

As for Marvell Technology's stock performance, it opened at $113.51. The company's debt-to-equity ratio stands at 0.28, with a current ratio of 1.79 and a quick ratio of 1.26. The stock has fluctuated over the past year, with a low of $50.56 and a high of $119.88. With a market cap of $100.59 billion, the company has a PE ratio of -66.77 and a PEG ratio of 4.15. The 50-day and 200-day simple moving averages are currently at $86.09 and $75.57, respectively.

Recent Dividend Information

Recently, Marvell Technology announced a quarterly dividend that was paid on October 31st. Shareholders who were on record as of October 11th received a dividend of $0.06. This results in an annualized dividend of $0.24, representing a yield of 0.21%. The company's dividend payout ratio is currently reported at -14.12%.

Analyst Ratings and Price Targets

Recent research reports have covered MRVL stock extensively. Barclays raised its target price from $85.00 to $115.00, assigning an "overweight" rating. Bank of America increased its price target from $108.00 to $125.00 while maintaining a "buy" rating. Similarly, Susquehanna has raised its price target from $110.00 to $125.00 with a "positive" rating. StockNews.com upgraded Marvell Technology’s rating from "sell" to "hold." TD Cowen also raised its price target from $90.00 to $125.00, keeping a "buy" rating. At present, three analysts have rated the stock as "hold," while twenty-four have rated it as "buy," leading to an average rating of "Moderate Buy" with a consensus price target of $119.04 according to MarketBeat.com.

Insider Transactions

In terms of insider activity, Marvell Technology's CFO, Willem A. Meintjes, sold 1,500 shares on November 15th at an average price of $89.14, totaling $133,710. Following this transaction, he owns 114,211 shares valued at approximately $10,180,768. This reflects a decrease of 1.30% in his ownership. Additionally, EVP Chris Koopmans sold 6,000 shares on the same day at an average price of $89.14, resulting in a transaction value of $534,840. After this sale, his holdings stand at 103,244 shares valued at $9,203,170. Over the last 90 days, insiders have sold a combined total of 267,000 shares worth about $20,899,260, with insiders currently owning 0.33% of the company's stock.

About Marvell Technology

Marvell Technology, Inc. and its subsidiaries provide semiconductor solutions for data infrastructure, ranging from data center core to network edges. The company specializes in developing and scaling complex System-on-a-Chip architectures that integrate various functionalities, such as analog, mixed-signal, and digital signal processing.

investment, technology, semiconductors