Natixis Investment Managers International Buys 6,475 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Natixis Investment Managers International increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,495 shares of the semiconductor company’s stock after purchasing an additional 6,475 shares during the quarter. Natixis Investment Managers International’s holdings in Marvell Technology were worth $1,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fred Alger Management LLC boosted its stake in shares of Marvell Technology by 2.4% in the 3rd quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock valued at $218,499,000 after purchasing an additional 95,003 shares during the last quarter. NewEdge Wealth LLC grew its position in shares of Marvell Technology by 15.6% in the 3rd quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 973 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Marvell Technology by 157.3% during the fourth 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. Hoylecohen LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $658,000. Finally, Montag A & Associates Inc. grew its holdings in shares of Marvell Technology by 15.8% during the third quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company’s stock worth $3,510,000 after buying an additional 8,836 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Down 0.2 %

Shares of NASDAQ:MRVL traded down $0.11 during midday trading on Friday, hitting $67.99. 8,799,973 shares of the stock were exchanged, compared to its average volume of 11,565,130. The business’s 50-day moving average price is $69.98 and its 200 day moving average price is $66.55. The stock has a market capitalization of $58.85 billion, a price-to-earnings ratio of -60.17, a P/E/G ratio of 3.23 and a beta of 1.46. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.21 and a current ratio of 1.80.

Marvell Technology (NASDAQ:MRVLGet Free Report) last announced its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. Marvell Technology’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. Analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were issued a $0.06 dividend. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Marvell Technology declared that its Board of Directors has approved a share repurchase program on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Marvell Technology in a research note on Monday, May 13th. They set a “buy” rating and a $85.00 price objective for the company. TD Cowen raised their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Citigroup reissued a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Evercore ISI increased their price target on Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Read Our Latest Research Report on MRVL

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00. Following the completion of the transaction, the executive vice president now owns 114,117 shares in the company, valued at approximately $7,581,933.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.44, for a total transaction of $332,200.00. Following the sale, the executive vice president now directly owns 114,117 shares in the company, valued at approximately $7,581,933.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction 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 directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,500 shares of company stock worth $7,522,055. Insiders own 0.33% of the company’s stock.

Marvell Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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