Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 5,200 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 187,147 shares of the semiconductor company’s stock after selling 5,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Marvell Technology were worth $20,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after acquiring an additional 68,893 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after acquiring an additional 219,692 shares during the period. Wellington Management Group LLP raised its position in shares of Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after buying an additional 359,005 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 4.5 %

Shares of NASDAQ:MRVL opened at $103.85 on Friday. The company has a fifty day moving average of $113.59 and a 200-day moving average of $92.25. The company has a market capitalization of $89.86 billion, a PE ratio of -61.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio is -14.12%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald lifted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by insiders.

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.