Fidelis Capital Partners LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Fidelis Capital Partners LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,667 shares of the semiconductor company’s stock, valued at approximately $281,000.

Several other large investors have also modified their holdings of the business. FMR LLC lifted its stake in Marvell Technology by 0.3% during the 3rd quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock worth $7,005,447,000 after acquiring an additional 421,622 shares in the last quarter. Vanguard Group Inc. lifted its stake in Marvell Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock worth $3,813,546,000 after acquiring an additional 477,731 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Marvell Technology by 118,898.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock worth $2,313,242,000 after acquiring an additional 62,400,056 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Marvell Technology by 6.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 25,272,190 shares of the semiconductor company’s stock worth $936,082,000 after acquiring an additional 1,603,857 shares in the last quarter. Finally, State Street Corp lifted its stake in Marvell Technology by 3.8% during the 1st quarter. State Street Corp now owns 19,449,228 shares of the semiconductor company’s stock worth $842,151,000 after acquiring an additional 715,036 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total value of $2,030,100.00. Following the completion of the sale, the chief executive officer now directly owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the sale, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the completion of the transaction, the chief executive officer now directly owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,000 shares of company stock valued at $7,315,640. 0.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays upped their price target on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Stifel Nicolaus restated a “buy” rating and set a $86.00 price target on shares of Marvell Technology in a report on Friday, April 12th. UBS Group upped their price target on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. B. Riley restated a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Finally, Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Stock Down 4.8 %

Marvell Technology stock opened at $62.13 on Friday. Marvell Technology, Inc. has a twelve month low of $36.90 and a twelve month high of $85.76. The stock has a 50 day moving average of $70.12 and a two-hundred day moving average of $62.20. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $53.80 billion, a price-to-earnings ratio of -57.53, a PEG ratio of 4.77 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its board has authorized a stock repurchase plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology’s payout ratio is -22.22%.

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.