Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by National Pension Service

Key Points

• The National Pension Service increased its holdings in Marvell Technology by 7.5%, owning over 2 million shares valued at approximately $128.6 million.
• Insider trading activity includes the sale of 3,000 shares by EVP Mark Casper and 1,500 shares by CFO Willem A. Meintjes, indicating a decrease in their respective ownership stakes.
• Marvell Technology's stock has recently traded at $79.04 with analysts having a mixed outlook, with an average price target of $94.70 and 23 "buy" ratings.

National Pension Service lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,088,804 shares of the semiconductor company's stock after purchasing an additional 146,276 shares during the period. National Pension Service owned about 0.24% of Marvell Technology worth $128,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $234,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Marvell Technology by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after buying an additional 206 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Marvell Technology by 8.4% during the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock worth $927,000 after buying an additional 1,164 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the last quarter. Finally, Sargent Investment Group LLC increased its holdings in shares of Marvell Technology by 55.7% during the 1st quarter. Sargent Investment Group LLC now owns 13,392 shares of the semiconductor company's stock worth $825,000 after buying an additional 4,792 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,409 shares of company stock worth $445,964 in the last 90 days. 0.19% of the stock is owned by insiders.

Marvell Technology Stock Down 0.4%

Shares of Marvell Technology stock traded down $0.28 during trading hours on Thursday, hitting $79.04. The company had a trading volume of 10,118,641 shares, compared to its average volume of 16,114,096. The company's 50-day moving average is $74.14 and its two-hundred day moving average is $73.68. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The company has a market cap of $68.28 billion, a P/E ratio of -138.67, a price-to-earnings-growth ratio of 0.86 and a beta of 1.83.

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 (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The company's revenue for the quarter was up 63.3% on a year-over-year basis. Analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given a $0.06 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's dividend payout ratio is -42.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MRVL shares. TD Cowen raised their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Barclays lowered their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price objective (down previously from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $94.70.

About Marvell Technology

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.