Royal London Asset Management Ltd. Has $45.46 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Royal London Asset Management Ltd. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the fourth quarter, Holdings Channel reports. The firm owned 411,584 shares of the semiconductor company’s stock after buying an additional 5,505 shares during the period. Royal London Asset Management Ltd.’s holdings in Marvell Technology were worth $45,459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 valued at $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Marvell Technology by 4.3% during 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 purchasing an additional 359,005 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Marvell Technology by 14.0% during 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 purchasing an additional 571,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marvell Technology by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock valued at $378,594,000 after purchasing an additional 165,858 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MRVL shares. Stifel Nicolaus reduced their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Benchmark reissued a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Bank of America reduced their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley reduced their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Price Performance

MRVL opened at $70.49 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a fifty day simple moving average of $99.94 and a 200 day simple moving average of $93.56. The stock has a market cap of $61.05 billion, a P/E ratio of -41.46, a P/E/G ratio of 1.61 and a beta of 1.42.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.