Sat Sep 28 18:07:10 UTC 2024: ## APG Asset Management Raises Stake in Marvell Technology
**New York, NY – September 28, 2024** – APG Asset Management N.V. has increased its holdings in Marvell Technology, Inc. (NASDAQ: MRVL) by 16.9% during the second quarter, according to its latest SEC filing. The investment firm now owns 605,167 shares of the semiconductor company, representing a value of $39,469,000. This move comes amidst a flurry of activity from various hedge funds and institutional investors, with some increasing their stakes in Marvell Technology while others have reduced or acquired new positions.
Notable among these include Davidson Kempner Capital Management LP, which expanded its holdings by 26.5%, and Diversified Trust Co, which established a new stake in the company. Meanwhile, Orion Portfolio Solutions LLC and Mitsubishi UFJ Asset Management Co. Ltd. also boosted their investments in the semiconductor firm.
Analysts remain optimistic about Marvell Technology, with several issuing “buy” or “outperform” ratings. The stock currently enjoys a “Moderate Buy” rating with an average target price of $91.62.
Marvell Technology reported earnings for the second quarter, meeting analysts’ expectations with $0.30 EPS and revenue of $1.27 billion. However, the company’s revenue declined by 5.1% year-over-year.
Despite the revenue dip, Marvell Technology continues to attract investor interest, particularly with its recent announcement of a quarterly dividend of $0.06 per share.
While insiders have recently sold shares of Marvell Technology, the company’s strong fundamentals and potential growth prospects appear to have captured the attention of institutional investors and hedge funds, suggesting continued confidence in its future performance.
First Piper 