Xponance Inc. Buys 513 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Xponance Inc. boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,556 shares of the semiconductor company’s stock after acquiring an additional 513 shares during the period. Xponance Inc.’s holdings in Marvell Technology were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. FMR LLC lifted its holdings in shares of Marvell Technology by 0.3% in the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock valued at $7,005,447,000 after purchasing an additional 421,622 shares in the last quarter. Vanguard Group Inc. increased its position 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 buying an additional 477,731 shares during the last quarter. Matrix Capital Management Company LP boosted its holdings 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 worth $712,720,000 after acquiring an additional 4,634,127 shares during the period. Invesco Ltd. boosted 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 worth $447,080,000 after acquiring an additional 698,359 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Marvell Technology by 43.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after acquiring an additional 2,142,391 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $62.88 on Tuesday. 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 stock’s 50 day moving average price is $69.97 and its 200-day moving average price is $62.40. Marvell Technology, Inc. has a twelve month low of $36.90 and a twelve month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology announced that its board has initiated a stock repurchase plan on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. Marvell Technology’s payout ratio is -22.22%.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 of the company’s stock, valued at $7,091,845.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 of the company’s stock, valued at $7,091,845.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 21,266 shares of the company’s stock, valued at $1,376,973.50. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock valued at $7,477,515 in the last 90 days. 0.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MRVL shares. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. B. Riley restated a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, UBS Group raised their target price on Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target 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.