Banque Cantonale Vaudoise Takes $2.21 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Banque Cantonale Vaudoise has invested approximately $2.21 million in Marvell Technology by acquiring 35,841 shares in the first quarter.
• Several institutional investors have significantly increased their stakes in Marvell Technology, with Nuveen Asset Management growing its ownership by over 232% in the last quarter.
• Marvell Technology recently declared a quarterly dividend of $0.06 per share, which will result in an annualized yield of 0.31% for investors.

Banque Cantonale Vaudoise purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 35,841 shares of the semiconductor company's stock, valued at approximately $2,206,000.

Several other hedge funds also recently bought and sold shares of MRVL. Tradewinds LLC. raised its stake in shares of Marvell Technology by 0.7% in the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after purchasing an additional 101 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Marvell Technology by 1.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after acquiring an additional 116 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in shares of Marvell Technology by 3.1% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company's stock valued at $448,000 after buying an additional 118 shares during the period. Virtue Capital Management LLC increased its stake in shares of Marvell Technology by 2.1% in the 4th quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company's stock valued at $856,000 after buying an additional 163 shares during the period. Finally, Summit Financial LLC increased its position in Marvell Technology by 5.7% in the fourth quarter. Summit Financial LLC now owns 3,032 shares of the semiconductor company's stock worth $335,000 after purchasing an additional 164 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MRVL shares. Bank of America boosted their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Morgan Stanley increased their price objective on shares of Marvell Technology from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Loop Capital cut their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft cut their price target on Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, KeyCorp cut their price objective on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus target price of $94.70.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the transaction, the chief operating officer directly owned 92,065 shares in the company, valued at $5,993,431.50. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,934 shares of company stock valued at $1,187,826. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 7.1%

Shares of NASDAQ:MRVL traded up $5.40 on Wednesday, hitting $81.74. 45,363,568 shares of the company's stock were exchanged, compared to its average volume of 15,088,178. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The business's 50 day simple moving average is $70.51 and its two-hundred day simple moving average is $76.83. The stock has a market capitalization of $70.61 billion, a price-to-earnings ratio of -143.40, a price-to-earnings-growth ratio of 0.83 and a beta of 1.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $0.24 EPS. Marvell Technology's revenue was up 63.3% on a year-over-year basis. Analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, July 11th. Marvell Technology's payout ratio is presently -42.11%.

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.