Daiwa Securities Group Inc. Decreases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Daiwa Securities Group Inc. lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,639 shares of the semiconductor company's stock after selling 14,620 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Marvell Technology were worth $6,311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MRVL. Moneta Group Investment Advisors LLC grew its holdings in Marvell Technology by 118,898.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company's stock valued at $2,313,242,000 after buying an additional 62,400,056 shares in the last quarter. Norges Bank bought a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $188,566,000. Matrix Capital Management Company LP lifted its stake in shares of Marvell Technology by 54.3% in the 3rd quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company's stock valued at $712,720,000 after purchasing an additional 4,634,127 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $107,779,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Marvell Technology by 43.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company's stock valued at $381,257,000 after purchasing an additional 2,142,391 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Down 4.8 %

MRVL traded down $3.11 during trading on Friday, hitting $62.13. 14,886,800 shares of the stock were exchanged, compared to its average volume of 11,990,799. The firm has a 50 day simple moving average of $70.12 and a 200 day simple moving average of $62.27. The firm has a market cap of $53.80 billion, a price-to-earnings ratio of -57.53, a P/E/G ratio of 4.77 and a beta of 1.50. Marvell Technology, Inc. has a 1 year low of $36.90 and a 1 year high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.34 EPS. The business's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be issued a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio is presently -22.22%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the transaction, the chief financial officer now directly owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Matthew J. Murphy sold 30,000 shares of the business's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now directly owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the transaction, the chief financial officer now owns 103,986 shares in the company, valued at $7,091,845.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,000 shares of company stock worth $7,315,640. 0.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Summit Insights raised Marvell Technology from a "hold" rating to a "buy" rating in a research note on Friday, March 8th. KeyCorp lowered their price objective on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 8th. Evercore ISI assumed coverage on Marvell Technology in a research note on Tuesday. They issued an "outperform" rating and a $88.00 price objective for the company. B. Riley reissued a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Two investment 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.13.

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.