Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,584 shares of the semiconductor company’s stock after acquiring an additional 5,505 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Marvell Technology were worth $45,459,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Generali Investments Management Co LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $626,000. Vinva Investment Management Ltd boosted its stake in shares of Marvell Technology by 10.0% during the 4th quarter. Vinva Investment Management Ltd now owns 43,572 shares of the semiconductor company’s stock worth $4,865,000 after acquiring an additional 3,954 shares in the last quarter. Xponance Inc. boosted its stake in shares of Marvell Technology by 21.1% during the 4th quarter. Xponance Inc. now owns 99,811 shares of the semiconductor company’s stock worth $11,024,000 after acquiring an additional 17,419 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Marvell Technology during the 4th quarter worth $6,550,000. Finally, Evoke Wealth LLC boosted its stake in shares of Marvell Technology by 47.1% during the 4th quarter. Evoke Wealth LLC now owns 4,999 shares of the semiconductor company’s stock worth $552,000 after acquiring an additional 1,600 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction 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 Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. Raymond James set a $110.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Evercore ISI raised their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Barclays decreased their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Price Performance

NASDAQ MRVL opened at $70.49 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock’s 50-day moving average is $99.94 and its two-hundred day moving average is $93.56. 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 market cap of $61.05 billion, a P/E ratio of -41.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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.