Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,079 shares of the semiconductor company’s stock after acquiring an additional 718 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $1,271,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MRVL. Caprock Group LLC increased its stake in Marvell Technology by 7.5% in the third quarter. Caprock Group LLC now owns 4,755 shares of the semiconductor company’s stock valued at $257,000 after acquiring an additional 330 shares during the last quarter. L. Roy Papp & Associates LLP grew its stake in shares of Marvell Technology by 3.0% during the third quarter. L. Roy Papp & Associates LLP now owns 105,901 shares of the semiconductor company’s stock valued at $5,732,000 after buying an additional 3,100 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of Marvell Technology during the third quarter valued at about $38,595,000. Handelsbanken Fonder AB grew its stake in shares of Marvell Technology by 2.7% during the third quarter. Handelsbanken Fonder AB now owns 273,760 shares of the semiconductor company’s stock valued at $14,819,000 after buying an additional 7,193 shares during the last quarter. Finally, Simplicity Solutions LLC grew its stake in shares of Marvell Technology by 2.6% during the third quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company’s stock valued at $630,000 after buying an additional 290 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Raymond James raised their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Evercore ISI assumed coverage on shares of Marvell Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Stock Up 1.7 %

NASDAQ:MRVL traded up $1.18 during midday trading on Friday, reaching $68.66. 1,356,763 shares of the stock traded hands, compared to its average volume of 13,849,357. Marvell Technology, Inc. has a 12-month low of $37.71 and a 12-month high of $85.76. The business has a 50-day moving average of $69.80 and a two-hundred day moving average of $62.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The stock has a market capitalization of $59.46 billion, a PE ratio of -62.48, a price-to-earnings-growth ratio of 4.74 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last released 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. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio is currently -22.22%.

Marvell Technology announced that its Board of Directors has authorized a share buyback program on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $64.75, for a total value of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the transaction, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $64.75, for a total transaction of $161,875.00. Following the transaction, the executive vice president now owns 21,266 shares of the company’s stock, valued at approximately $1,376,973.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,500 shares of company stock valued at $7,477,515. Corporate insiders own 0.45% 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.