Swiss National Bank Sells 68,100 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Swiss National Bank cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,698,003 shares of the semiconductor company's stock after selling 68,100 shares during the period. Swiss National Bank owned 0.31% of Marvell Technology worth $162,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in Marvell Technology by 0.3% in the 3rd quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company's stock worth $7,005,447,000 after purchasing an additional 421,622 shares in the last quarter. Vanguard Group Inc. boosted its stake in Marvell Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company's stock worth $3,813,546,000 after acquiring an additional 477,731 shares in the last quarter. Matrix Capital Management Company LP increased its stake in shares of Marvell Technology by 54.3% during the third 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 in the last quarter. Invesco Ltd. lifted its holdings in shares of Marvell Technology by 9.2% during the third quarter. Invesco Ltd. now owns 8,259,375 shares of the semiconductor company's stock valued at $447,080,000 after purchasing an additional 698,359 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 worth $381,257,000 after purchasing an additional 2,142,391 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the sale, the chief financial officer now owns 110,218 shares in the company, valued at approximately $7,107,958.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $64.75, for a total transaction of $161,875.00. Following the completion of the sale, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the completion of the transaction, the chief financial officer now owns 110,218 shares in the company, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,473,805 over the last quarter. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Stock Up 2.8 %

MRVL traded up $1.84 during trading on Friday, hitting $68.51. The stock had a trading volume of 9,010,436 shares, compared to its average volume of 13,810,998. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company has a market capitalization of $59.33 billion, a PE ratio of -63.43, a PEG ratio of 4.67 and a beta of 1.48. Marvell Technology, Inc. has a twelve month low of $38.63 and a twelve month high of $85.76. The stock has a 50 day simple moving average of $69.84 and a two-hundred day simple moving average of $62.95.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Thursday, April 11th. Marvell Technology's dividend payout ratio is presently -22.22%.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several analyst reports. Roth Mkm reissued a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Summit Insights raised Marvell Technology from a "hold" rating to a "buy" rating in a report on Friday, March 8th. Stifel Nicolaus restated a "buy" rating and set a $86.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Raymond James increased their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, January 19th. Finally, KeyCorp cut their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $81.13.

Marvell Technology 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.

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