Metis Global Partners LLC Trims Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Metis Global Partners LLC lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,996 shares of the semiconductor company’s stock after selling 4,946 shares during the quarter. Metis Global Partners LLC’s holdings in Marvell Technology were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its stake in Marvell Technology by 38.6% in the fourth quarter. National Bank of Canada FI now owns 781,510 shares of the semiconductor company’s stock valued at $45,460,000 after purchasing an additional 217,529 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in Marvell Technology by 12.0% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,854 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 520 shares during the last quarter. M&T Bank Corp lifted its position in Marvell Technology by 5.6% during the fourth quarter. M&T Bank Corp now owns 82,818 shares of the semiconductor company’s stock valued at $4,995,000 after buying an additional 4,366 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Marvell Technology by 157.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 472 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in Marvell Technology by 12.0% in the fourth quarter. Natixis Advisors L.P. now owns 661,953 shares of the semiconductor company’s stock valued at $39,921,000 after acquiring an additional 70,737 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Oppenheimer reissued an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. B. Riley restated a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Roth Mkm reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $69.75 on Tuesday. Marvell Technology, Inc. has a 12-month low of $39.23 and a 12-month 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. The company has a market cap of $60.40 billion, a PE ratio of -64.64, a P/E/G ratio of 5.01 and a beta of 1.48. The stock has a 50 day simple moving average of $69.88 and a 200-day simple moving average of $63.34.

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

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is -22.22%.

Marvell Technology announced that its board has initiated a share buyback plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the business’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 transaction of $339,900.00. Following the sale, the executive vice president now owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $66.17, for a total transaction of $1,985,100.00. Following the sale, the chief executive officer now directly owns 732,929 shares of the company’s stock, valued at $48,497,911.93. The disclosure for this sale can be found here. In the last three months, insiders sold 110,500 shares of company stock valued at $7,473,805. Company 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.