Marvell Technology, Inc. (NASDAQ:MRVL) is Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s 9th Largest Position

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 127.4% during the 4th quarter, HoldingsChannel reports. The firm owned 270,467 shares of the semiconductor company’s stock after buying an additional 151,529 shares during the period. Marvell Technology comprises about 3.6% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s investment portfolio, making the stock its 9th largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s holdings in Marvell Technology were worth $29,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Marvell Technology by 1.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,340,202 shares of the semiconductor company’s stock worth $810,725,000 after acquiring an additional 75,429 shares during the period. Voloridge Investment Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $24,561,000. Waverly Advisors LLC purchased a new position in Marvell Technology during the fourth quarter worth about $398,000. Woodline Partners LP lifted its holdings in Marvell Technology by 126.2% in the fourth quarter. Woodline Partners LP now owns 634,378 shares of the semiconductor company’s stock valued at $70,067,000 after acquiring an additional 353,895 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Marvell Technology in the 4th quarter valued at $75,347,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Down 1.9%

Marvell Technology stock opened at $62.56 on Tuesday. The company has a market capitalization of $54.04 billion, a P/E ratio of -36.80, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The firm’s fifty day simple moving average is $60.22 and its 200-day simple moving average is $88.63. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. Marvell Technology’s payout ratio is presently -23.53%.

Insider Activity

In other news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,239 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the transaction, the chief accounting officer now owns 30,855 shares of the company’s stock, valued at approximately $2,005,883.55. This represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

MRVL has been the topic of several recent analyst reports. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Morgan Stanley decreased their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus dropped their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.69.

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.