National Bank of Canada FI Has $45.46 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

National Bank of Canada FI raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 781,510 shares of the semiconductor company's stock after purchasing an additional 217,529 shares during the quarter. National Bank of Canada FI owned 0.09% of Marvell Technology worth $45,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Matrix Capital Management Company LP lifted its holdings in 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. Massachusetts Financial Services Co. MA increased its holdings in 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 acquiring an additional 2,142,391 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Marvell Technology by 87.0% during the third quarter. Wellington Management Group LLP now owns 4,548,206 shares of the semiconductor company's stock valued at $246,194,000 after purchasing an additional 2,115,366 shares in the last quarter. Alkeon Capital Management LLC bought a new position in Marvell Technology during the third quarter valued at approximately $102,847,000. Finally, Rokos Capital Management LLP increased its stake in Marvell Technology by 176.5% in the 3rd quarter. Rokos Capital Management LLP now owns 1,457,044 shares of the semiconductor company's stock worth $79,977,000 after acquiring an additional 930,158 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Up 1.9 %

Shares of NASDAQ MRVL traded up $1.31 during mid-day trading on Monday, reaching $69.82. 7,016,073 shares of the company's stock were exchanged, compared to its average volume of 13,732,910. The firm has a market capitalization of $60.46 billion, a price-to-earnings ratio of -64.65, a PEG ratio of 5.01 and a beta of 1.48. Marvell Technology, Inc. has a 52-week low of $39.23 and a 52-week high of $85.76. The company's 50-day moving average is $69.88 and its 200-day moving average is $63.34. 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 posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the company posted $0.34 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its board has initiated a stock repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -22.22%.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the transaction, the executive vice president now owns 119,117 shares in the company, valued at approximately $8,097,573.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the transaction, the executive vice president now directly owns 119,117 shares in the company, valued at approximately $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 110,218 shares of the company's stock, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,473,805 in the last ninety days. 0.45% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. StockNews.com cut Marvell Technology from a "hold" rating to a "sell" rating in a report on Sunday, April 28th. KeyCorp decreased their price target on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 8th. Evercore ISI assumed coverage on Marvell Technology in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $88.00 price objective on the stock. Finally, B. Riley restated a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. 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 company's stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus 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.