National Bank of Canada FI Has $60.68 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

National Bank of Canada FI raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 886,189 shares of the semiconductor company’s stock after acquiring an additional 104,679 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Marvell Technology worth $60,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Marvell Technology during the fourth quarter worth $511,215,000. Brown Advisory Inc. boosted its holdings in shares of Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock valued at $890,475,000 after acquiring an additional 3,036,495 shares in the last quarter. Aspex Management HK Ltd grew its position in Marvell Technology by 103.8% during the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock worth $344,525,000 after acquiring an additional 2,908,912 shares during the last quarter. Vanguard Group Inc. increased its holdings in Marvell Technology by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 72,342,362 shares of the semiconductor company’s stock worth $4,362,968,000 after purchasing an additional 1,890,753 shares in the last quarter. Finally, Matrix Capital Management Company LP raised its position in Marvell Technology by 14.3% in the fourth quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock valued at $907,997,000 after purchasing an additional 1,888,676 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $369,400.00. Following the completion of the sale, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares in the company, valued at $8,076,413.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock worth $7,255,235. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 5.9 %

Shares of NASDAQ:MRVL traded down $4.04 during trading on Wednesday, reaching $64.35. 10,732,093 shares of the stock were exchanged, compared to its average volume of 12,642,991. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The stock has a fifty day moving average of $71.77 and a two-hundred day moving average of $69.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The firm has a market cap of $55.70 billion, a price-to-earnings ratio of -57.20, a price-to-earnings-growth ratio of 3.27 and a beta of 1.47.

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

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.37%. Marvell Technology’s payout ratio is -21.24%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MRVL. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Oppenheimer reissued 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. Barclays lifted their target price on Marvell Technology from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Citigroup restated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

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.