Asset Management One Co. Ltd. Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Asset Management One Co. Ltd. cut its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 345,676 shares of the semiconductor company’s stock after selling 1,279 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Marvell Technology were worth $21,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Marvell Technology by 43.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock valued at $381,257,000 after purchasing an additional 2,142,391 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in Marvell Technology by 328.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 23,949 shares of the semiconductor company’s stock valued at $1,296,000 after acquiring an additional 18,357 shares in the last quarter. Fred Alger Management LLC raised its holdings in Marvell Technology by 2.4% in the third quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock valued at $218,499,000 after acquiring an additional 95,003 shares in the last quarter. NewEdge Wealth LLC raised its holdings in Marvell Technology by 15.6% in the third quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 973 shares in the last quarter. Finally, Montag A & Associates Inc. raised its holdings in Marvell Technology by 15.8% in the third quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company’s stock valued at $3,510,000 after acquiring an additional 8,836 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 analysts recently issued reports on MRVL shares. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday. B. Riley reaffirmed a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. UBS Group upped their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, February 26th. Citigroup reissued a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. Finally, Barclays lifted their price target on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Insider Buying and Selling

In related news, Director Ford Tamer sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $60.20, for a total transaction of $1,806,000.00. Following the sale, the director now owns 40,403 shares of the company’s stock, valued at $2,432,260.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total value of $326,300.00. Following the transaction, the executive vice president now owns 124,117 shares of the company’s stock, valued at $8,099,875.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ford Tamer sold 30,000 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $60.20, for a total value of $1,806,000.00. Following the completion of the transaction, the director now directly owns 40,403 shares in the company, valued at approximately $2,432,260.60. The disclosure for this sale can be found here. Insiders have sold a total of 138,000 shares of company stock valued at $8,994,790 over the last quarter. Corporate insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $72.65 on Friday. 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 stock has a 50 day simple moving average of $70.04 and a 200-day simple moving average of $61.10. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76.

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

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s payout ratio is -22.22%.

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

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.