Marvell Technology, Inc. $MRVL Stock Holdings Trimmed by NBW Capital LLC

NBW Capital LLC lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,290 shares of the semiconductor company’s stock after selling 761 shares during the quarter. Marvell Technology comprises 1.5% of NBW Capital LLC’s portfolio, making the stock its 21st largest position. NBW Capital LLC’s holdings in Marvell Technology were worth $7,143,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MRVL. Vanguard Group Inc. raised its position in shares of Marvell Technology by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 64,443,232 shares of the semiconductor company’s stock valued at $4,987,906,000 after acquiring an additional 673,110 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock valued at $1,272,117,000 after purchasing an additional 5,050,159 shares during the last quarter. Norges Bank acquired a new stake in shares of Marvell Technology during the second quarter worth $716,713,000. Ameriprise Financial Inc. lifted its position in shares of Marvell Technology by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company’s stock worth $562,991,000 after buying an additional 227,555 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Marvell Technology by 112.4% in the 2nd quarter. Franklin Resources Inc. now owns 8,097,620 shares of the semiconductor company’s stock valued at $626,756,000 after buying an additional 4,285,330 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy purchased 13,600 shares of Marvell Technology stock in a transaction dated Thursday, September 25th. The stock was bought at an average cost of $77.09 per share, with a total value of $1,048,424.00. Following the purchase, the chief executive officer owned 268,637 shares in the company, valued at approximately $20,709,226.33. The trade was a 5.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes acquired 3,400 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the purchase, the chief financial officer directly owned 132,159 shares of the company’s stock, valued at approximately $10,312,366.77. This trade represents a 2.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 27,200 shares of company stock valued at $2,109,632 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Marvell Technology Trading Up 1.9%

NASDAQ:MRVL opened at $91.10 on Tuesday. The stock has a market cap of $78.54 billion, a price-to-earnings ratio of -700.77, a PEG ratio of 1.10 and a beta of 1.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The business has a fifty day moving average of $86.38 and a 200-day moving average of $76.40.

Marvell Technology announced that its board has approved a share buyback program on Wednesday, September 24th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 30th. Shareholders of record on Friday, October 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology’s dividend payout ratio (DPR) is presently -184.62%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays reissued an “equal weight” rating and issued a $80.00 target price on shares of Marvell Technology in a report on Monday, October 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Marvell Technology from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Bank of America reaffirmed a “neutral” rating and issued a $78.00 target price (down from $90.00) on shares of Marvell Technology in a research report on Friday, August 29th. Hsbc Global Res upgraded Marvell Technology to a “hold” rating in a research note on Monday, November 24th. Finally, Jefferies Financial Group lowered their price target on shares of Marvell Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, August 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.72.

Marvell Technology Company 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.