Xponance Inc. Purchases 513 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Xponance Inc. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,556 shares of the semiconductor company’s stock after purchasing an additional 513 shares during the quarter. Xponance Inc.’s holdings in Marvell Technology were worth $2,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MRVL. FMR LLC boosted its holdings in shares of Marvell Technology by 0.3% in the 3rd quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock valued at $7,005,447,000 after acquiring an additional 421,622 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Marvell Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock worth $3,813,546,000 after buying an additional 477,731 shares in the last quarter. Matrix Capital Management Company LP boosted its holdings in Marvell Technology by 54.3% during the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock worth $712,720,000 after buying an additional 4,634,127 shares in the last quarter. Invesco Ltd. raised its position in Marvell Technology by 9.2% during the third quarter. Invesco Ltd. now owns 8,259,375 shares of the semiconductor company’s stock worth $447,080,000 after acquiring an additional 698,359 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Marvell Technology by 43.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after acquiring an additional 2,142,391 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 1.2 %

Shares of Marvell Technology stock opened at $62.88 on Tuesday. The firm’s fifty day simple moving average is $69.97 and its 200-day simple moving average is $62.40. Marvell Technology, Inc. has a 12 month low of $36.90 and a 12 month high of $85.76. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its board has authorized a share buyback program on Thursday, March 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. Marvell Technology’s payout ratio is currently -22.22%.

Insiders Place Their Bets

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the transaction, the chief financial officer now owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,500 shares of company stock worth $7,477,515. 0.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MRVL. Stifel Nicolaus restated a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. B. Riley restated a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $81.13.

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.