Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by National Pension Service

National Pension Service increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,600,619 shares of the semiconductor company’s stock after buying an additional 36,386 shares during the quarter. National Pension Service owned about 0.19% of Marvell Technology worth $96,533,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Buck Wealth Strategies LLC lifted its stake in shares of Marvell Technology by 1,328.1% in the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 165 shares during the last quarter. Whittier Trust Co. increased its holdings in Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 226 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in Marvell Technology by 532.3% during the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 527 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Evercore ISI began coverage on Marvell Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 price target on the stock. Barclays lifted their price target on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. TD Cowen increased their price target on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Stock Up 0.2 %

NASDAQ:MRVL traded up $0.17 during trading hours on Thursday, hitting $68.28. 4,317,467 shares of the stock traded hands, compared to its average volume of 13,466,165. The firm has a 50 day moving average price of $69.88 and a 200 day moving average price of $63.51. The firm has a market cap of $59.13 billion, a price-to-earnings ratio of -63.53, a PEG ratio of 5.01 and a beta of 1.48. Marvell Technology, Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $85.76. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s payout ratio is -22.22%.

Marvell Technology announced that its board has authorized a share buyback program on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the transaction, the chief financial officer now owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the completion of the sale, the executive vice president now directly owns 109,117 shares of the company’s stock, valued at approximately $7,774,586.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the transaction, the chief financial officer now owns 110,218 shares in the company, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,473,805 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

About Marvell Technology

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.