National Pension Service Purchases 106,405 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

National Pension Service increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,602,487 shares of the semiconductor company’s stock after buying an additional 106,405 shares during the quarter. National Pension Service owned about 0.19% of Marvell Technology worth $68,699,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Guardian Wealth Advisors LLC bought a new stake in Marvell Technology in the third quarter worth $26,000. TimeScale Financial Inc. lifted its position in Marvell Technology by 2,480.6% in the third quarter. TimeScale Financial Inc. now owns 800 shares of the semiconductor company’s stock worth $34,000 after buying an additional 769 shares during the last quarter. Asset Dedication LLC purchased a new stake in Marvell Technology in the third quarter worth $35,000. AlphaCentric Advisors LLC purchased a new stake in Marvell Technology in the third quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new stake in Marvell Technology in the first quarter worth $40,000. 81.28% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

MRVL opened at $37.62 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 0.93. The firm has a market capitalization of $32.24 billion, a PE ratio of -198.00, a price-to-earnings-growth ratio of 11.70 and a beta of 1.47. The business’s 50-day moving average is $42.54 and its two-hundred day moving average is $42.23. Marvell Technology, Inc. has a 1 year low of $33.75 and a 1 year high of $76.59.

Marvell Technology (NASDAQ:MRVL – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Marvell Technology had a positive return on equity of 8.46% and a negative net margin of 2.76%. Marvell Technology’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. Research analysts anticipate that Marvell Technology, Inc. will post 0.99 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Friday, April 7th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.64%. Marvell Technology’s dividend payout ratio is presently -126.32%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Dan Christman sold 6,778 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $46.05, for a total value of $312,126.90. Following the completion of the sale, the executive vice president now owns 85,425 shares of the company’s stock, valued at $3,933,821.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Marvell Technology news, EVP Dan Christman sold 6,778 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $46.05, for a total value of $312,126.90. Following the completion of the sale, the executive vice president now owns 85,425 shares of the company’s stock, valued at $3,933,821.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Willem A. Meintjes sold 10,000 shares of Marvell Technology stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $34.92, for a total value of $349,200.00. Following the sale, the chief accounting officer now directly owns 72,896 shares of the company’s stock, valued at approximately $2,545,528.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,978 shares of company stock valued at $2,881,891. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Marvell Technology from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 3rd. Morgan Stanley increased their target price on Marvell Technology from $41.00 to $45.00 in a research note on Friday, March 3rd. Wells Fargo & Company reduced their target price on Marvell Technology from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, December 2nd. Rosenblatt Securities reduced their target price on Marvell Technology from $125.00 to $100.00 in a research note on Friday, March 3rd. Finally, Oppenheimer cut their price target on Marvell Technology from $80.00 to $70.00 in a research note on Tuesday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.54.

Marvell Technology Company Profile

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Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.