Allspring Global Investments Holdings LLC Has $40 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Allspring Global Investments Holdings LLC decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 932,301 shares of the semiconductor company’s stock after selling 125,313 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Marvell Technology worth $40,004,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Marvell Technology by 3.0% in the 2nd quarter. FMR LLC now owns 124,827,357 shares of the semiconductor company’s stock valued at $5,433,736,000 after purchasing an additional 3,663,148 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Marvell Technology by 16.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 36,482,866 shares of the semiconductor company’s stock valued at $1,588,099,000 after purchasing an additional 5,070,739 shares during the period. State Street Corp increased its holdings in shares of Marvell Technology by 0.9% in the 1st quarter. State Street Corp now owns 18,632,316 shares of the semiconductor company’s stock valued at $1,336,123,000 after purchasing an additional 174,753 shares during the period. Invesco Ltd. increased its holdings in shares of Marvell Technology by 41.4% in the 1st quarter. Invesco Ltd. now owns 8,927,218 shares of the semiconductor company’s stock valued at $640,172,000 after purchasing an additional 2,613,172 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Marvell Technology by 5.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,704,726 shares of the semiconductor company’s stock valued at $335,393,000 after purchasing an additional 416,104 shares during the period. Institutional investors and hedge funds own 81.28% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $36.10 on Monday. Marvell Technology, Inc. has a 1-year low of $33.75 and a 1-year high of $87.42. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 0.92. The business has a 50 day moving average of $40.39 and a 200-day moving average of $44.82.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be given a $0.06 dividend. The ex-dividend date is Thursday, January 5th. This represents a $0.24 annualized dividend and a dividend yield of 0.66%. Marvell Technology’s dividend payout ratio is -150.00%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MRVL. Barclays dropped their target price on Marvell Technology from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, December 2nd. UBS Group lowered their price target on Marvell Technology from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, December 2nd. Craig Hallum lowered their price target on Marvell Technology from $90.00 to $63.00 in a research note on Friday, December 2nd. Oppenheimer lowered their price target on Marvell Technology from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 28th. Finally, Susquehanna Bancshares lowered their price target on Marvell Technology to $60.00 in a research note on Friday, December 2nd. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

Insider Activity

In related news, EVP Mitchell Gaynor sold 5,000 shares of the company’s stock in a transaction on Saturday, October 15th. The stock was sold at an average price of $39.61, for a total value of $198,050.00. Following the completion of the transaction, the executive vice president now directly owns 103,429 shares in the company, valued at $4,096,822.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.45% of the stock is owned by company insiders.

Marvell Technology Profile

(Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

Read More

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.