Natixis Advisors LLC Increases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

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Natixis Advisors LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,097,328 shares of the semiconductor company's stock after buying an additional 103,943 shares during the quarter. Natixis Advisors LLC owned approximately 0.13% of Marvell Technology worth $67,563,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $26,000. Rossby Financial LCC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $27,000. Security National Bank acquired a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $31,000. Capital Analysts LLC boosted its holdings in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after buying an additional 241 shares during the last quarter. Finally, Garde Capital Inc. acquired a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company dropped their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. UBS Group restated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Evercore ISI dropped their price target on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Finally, Citigroup dropped their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $94.70.

Marvell Technology Trading Down 6.6%

Shares of MRVL traded down $5.34 during mid-day trading on Friday, reaching $75.03. 5,470,754 shares of the company were exchanged, compared to its average volume of 18,723,459. The stock has a market capitalization of $64.81 billion, a PE ratio of -131.21, a PEG ratio of 0.89 and a beta of 1.81. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The business has a 50 day simple moving average of $71.31 and a two-hundred day simple moving average of $76.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

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

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Marvell Technology's payout ratio is currently -42.11%.

Insider Transactions at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer owned 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,434 shares of company stock worth $1,097,826. Insiders own 0.19% of the company's stock.

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.