Vanguard Group Inc. Has $5.16 Billion Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Vanguard Group Inc. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,810,448 shares of the semiconductor company’s stock after buying an additional 468,086 shares during the period. Vanguard Group Inc. owned about 8.41% of Marvell Technology worth $5,160,805,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Marvell Technology by 157.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 472 shares during the period. Hoylecohen LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $658,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Marvell Technology by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after purchasing an additional 88,918 shares during the last quarter. US Bancorp DE lifted its stake in shares of Marvell Technology by 8.6% in the 4th quarter. US Bancorp DE now owns 185,347 shares of the semiconductor company’s stock valued at $11,178,000 after purchasing an additional 14,651 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Marvell Technology by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 3,199,865 shares of the semiconductor company’s stock valued at $192,984,000 after purchasing an additional 187,998 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several analyst reports. Barclays lifted their price objective on shares of Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. B. Riley lifted their price objective on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Citigroup reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus boosted their target price on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $85.50.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the transaction, the chief financial officer now directly owns 109,318 shares in the company, valued at $8,076,413.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the insider now owns 838,571 shares in the company, valued at $62,892,825. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $7,255,235 over the last quarter. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $1.69 on Friday, hitting $66.51. 9,367,768 shares of the company were exchanged, compared to its average volume of 10,091,948. The company’s 50 day moving average price is $71.76 and its two-hundred day moving average price is $69.70. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The firm has a market capitalization of $57.57 billion, a price-to-earnings ratio of -58.86, a PEG ratio of 3.15 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The business’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. Research analysts expect that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be paid a $0.06 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. Marvell Technology’s payout ratio is currently -21.24%.

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.