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

National Pension Service grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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’s holdings in Marvell Technology were worth $96,533,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MRVL. Charles Schwab Investment Management Inc. grew its holdings in shares of Marvell Technology by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,111,703 shares of the semiconductor company’s stock worth $187,667,000 after buying an additional 117,160 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Marvell Technology by 2.7% during the fourth quarter. Apollon Wealth Management LLC now owns 43,476 shares of the semiconductor company’s stock worth $2,622,000 after buying an additional 1,153 shares during the period. Lincoln National Corp raised its position in Marvell Technology by 15.6% in the fourth quarter. Lincoln National Corp now owns 6,172 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 833 shares during the period. Maryland State Retirement & Pension System lifted its stake in Marvell Technology by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 66,505 shares of the semiconductor company’s stock worth $4,011,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Marvell Technology by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 50,678 shares of the semiconductor company’s stock valued at $3,056,000 after purchasing an additional 3,235 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’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 sale, the chief financial officer now owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction of $2,030,100.00. Following the completion of the sale, the chief executive officer now directly owns 762,929 shares in the company, valued at $51,627,405.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 110,218 shares of the company’s stock, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,473,805 over the last ninety days. 0.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on MRVL shares. Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. UBS Group raised their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Morgan Stanley raised their price target on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $0.17 during midday trading on Thursday, reaching $68.28. The company’s stock had a trading volume of 4,317,467 shares, compared to its average volume of 13,466,165. The company has a market cap of $59.13 billion, a price-to-earnings ratio of -63.53, a price-to-earnings-growth ratio of 5.01 and a beta of 1.48. Marvell Technology, Inc. has a one year low of $39.23 and a one year 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 50 day moving average price of $69.88 and a 200 day moving average price of $63.51.

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 the consensus estimate of $0.46. The business 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 company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. On average, equities research analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology announced that its Board of Directors has approved a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Marvell Technology Dividend Announcement

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

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.