Royal London Asset Management Ltd. Increases Stake in Marvell Technology, Inc.

Royal London Asset Management Ltd. has increased its investment in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.2% during the third quarter, as stated in their latest filing with the Securities and Exchange Commission. After acquiring an additional 16,442 shares, the institutional investor now owns a total of 406,079 shares in the semiconductor company. As of this filing, Royal London Asset Management Ltd.'s holdings in Marvell were valued at approximately $29.3 million.

Recent activity among other institutional investors also reflects changes in holdings of Marvell Technology. For instance, Citizens Financial Group Inc. (RI) raised its position by 1.5%, now possessing 7,842 shares worth $566,000 after an additional acquisition of 116 shares during the past quarter. Similarly, Crumly & Associates Inc. increased its stake by 1.5%, holding 8,223 shares valued at $593,000, following the purchase of 121 additional shares. Additionally, United Capital Management of KS Inc. grew its share count by 0.4%, owning 34,251 shares, which amount to $2.47 million after buying another 131 shares. Integrated Wealth Concepts LLC and ASB Consultores LLC also adjusted their positions in Marvell, with increases of 1.4% and 3.8%, respectively. Overall, hedge funds and institutional investors hold around 83.51% of Marvell's stock.

Marvell Technology Stock Performance

As of Friday, the stock price of Marvell Technology opened at $113.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79, and a quick ratio of 1.26. Over the past year, Marvell's stock has ranged from a low of $50.56 to a high of $119.88. The firm currently boasts a market capitalization of around $100.59 billion, a price-to-earnings ratio of -66.77, and a beta of 1.46. The 50-day and 200-day simple moving averages stand at $86.09 and $75.57, respectively.

Dividend Announcement from Marvell Technology

Recently, Marvell Technology announced its quarterly dividend, which was disbursed on October 31. Shareholders who were on record as of October 11 received a dividend of $0.06 per share. The ex-dividend date for this payment was also October 11. This dividend amounts to an annualized payment of $0.24 and represents a yield of 0.21%. Currently, Marvell's dividend payout ratio stands at -14.12%.

Analyst Perspectives on Marvell Technology

The stock has attracted interest among analysts, leading to several research reports. For example, Barclays raised their target price from $85.00 to $115.00, rating the shares as “overweight.” Bank of America adjusted their target upward from $108.00 to $125.00, assigning a “buy” rating. Susquehanna similarly increased their target from $110.00 to $125.00, affirming a “positive” outlook for the company. StockNews.com upgraded Marvell’s rating from “sell” to “hold” as of December 2. Furthermore, TD Cowen raised their price objective to $125.00, also issuing a “buy” recommendation. Currently, three analysts have assigned a hold rating while twenty-four recommend buying Marvell stock, resulting in an average rating of “Moderate Buy” with a consensus price target set at $119.04.

Insider Trading at Marvell Technology

In internal company movements, CFO Willem A. Meintjes recently sold 1,500 shares of Marvell stock on November 15 at an average price of $89.14, totaling $133,710. Following this sale, he holds 114,211 shares valued at around $10.18 million. In another transaction, EVP Chris Koopmans sold 6,000 shares on the same day at the same average price, making $534,840 from this sale. Post-transaction, he retains 103,244 shares worth approximately $9.20 million. Over the past 90 days, insiders have sold 267,000 shares, totaling $20.90 million, while insiders collectively own 0.33% of the company’s stock.

Overview of Marvell Technology

Marvell Technology, Inc., along with its subsidiaries, specializes in providing semiconductor solutions for data infrastructure, covering a wide range from data center cores to network edges. The company is known for developing and enhancing complex System-on-a-Chip architectures that integrate analog, mixed-signal, and digital signal processing.

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