Nordea Investment Management AB increased its position in shares of Marvell Technology, Inc. (NASDAQ: MRVL – Get Rating ) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,190,681 shares of the semiconductor company’s stock after acquiring an additional 163,683 shares during the period. Nordea Investment Management AB owned about 0.14% of Marvell Technology worth $42,853,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in Marvell Technology by 2,626.8% during the third quarter. Fisher Asset Management LLC now owns 11,556,965 shares of the semiconductor company’s stock valued at $495,909,000 after purchasing an additional 11,133,134 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of Marvell Technology in the third quarter worth about $142,412,000. Ceredex Value Advisors LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth about $70,210,000. Brown Advisory Inc. boosted its stake in shares of Marvell Technology by 15.9% in the third quarter. Brown Advisory Inc. now owns 11,194,297 shares of the semiconductor company’s stock valued at $480,348,000 after purchasing an additional 1,534,769 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Marvell Technology by 59.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,896,080 shares of the semiconductor company’s stock valued at $167,181,000 after buying an additional 1,455,798 shares during the period. 81.28% of the shares are currently owned by hedge funds and other institutional investors.
Insider buying and selling
In related news, EVP Dan Christman sold 6,778 shares of the company’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $46.05, for a total value of $312,126.90. Following the completion of the transaction, the executive vice president now directly owns 85,425 shares of the company’s stock, valued at approximately $3,933,821.25. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. Company insiders own 0.45% of the company’s shares.
Marvell Technology Stock Performance
Shares of Marvell Technology stock opened at $40.97 on Monday. The firm has a fifty day moving average of $40.73 and a two hundred day moving average of $41.15. The stock has a market cap of $35.20 billion, a price-to-earnings ratio of -215.63, a PEG ratio of 14.22 and a beta of 1.44. Marvell Technology, Inc. it has a 52-week low of $33.75 and a 52-week high of $61.50. The company has a debt-to-equity ratio of 0.25, a quick earnings ratio of 0.93 and a current ratio of 1.37.
Marvell Technology (NASDAQ:MRVL – Get Rating ) last announced its quarterly earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Marvell Technology had a negative net margin of 2.76% and a positive return on equity of 8.46%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ estimates of $1.41 billion. During the same period last year, the firm earned $0.35 EPS. Marvell Technology’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts predict that Marvell Technology, Inc. will post 0.86 EPS for the current year.
Marvell Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Friday, April 7th were given a $0.06 dividend. This represents an annualized dividend of $0.24 and a yield of 0.59%. The ex-dividend date was Wednesday, April 5th. Marvell Technology’s payout ratio is currently -126.32%.
Changes in analyst ratings
A number of equities analysts recently weighed in on the company. Oppenheimer cut their target price on Marvell Technology from $80.00 to $70.00 in a research report on Tuesday, January 10th. Rosenblatt Securities reduced their price objective on Marvell Technology from $125.00 to $100.00 in a report on Friday, March 3rd. Credit Suisse Group reduced their price objective on Marvell Technology from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, March 3rd. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 11th. Finally, KeyCorp decreased their price objective on Marvell Technology from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, March 3rd. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Moderate Buy” and an average target price of $58.00, according to MarketBeat.
Marvell Technology Company Profile
Marvell Technology, Inc is committed to providing semiconductor solutions for data infrastructure. It offers compute, networking, storage and custom solutions. The company designs, develops and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja and Sehat Sutardja in 1995 and is headquartered in Wilmington, Delaware.
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