Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 735,840 shares of the semiconductor company’s stock after buying an additional 11,326 shares during the quarter. Jennison Associates LLC owned about 0.09% of Marvell Technology worth $44,378,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. raised its position in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the period. Blue Trust Inc. raised its position in Marvell Technology by 23.4% during the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 155 shares during the period. Versant Capital Management Inc increased its position in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 161 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 165 shares during the last quarter. Finally, Insight Inv LLC increased its position in Marvell Technology by 0.5% in the 4th quarter. Insight Inv LLC now owns 37,620 shares of the semiconductor company’s stock worth $2,269,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the transaction, the executive vice president now directly owns 119,117 shares in the company, valued at approximately $8,097,573.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the transaction, the executive vice president now directly owns 119,117 shares in the company, valued at $8,097,573.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business’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 sale, the executive vice president now directly owns 21,266 shares of the company’s stock, valued at $1,376,973.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,500 shares of company stock worth $7,477,515. Corporate insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Citigroup reiterated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research note on Wednesday, March 27th. Barclays upped their price target on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Trading Up 1.6 %

Shares of MRVL opened at $63.86 on Wednesday. Marvell Technology, Inc. has a 1 year low of $36.90 and a 1 year high of $85.76. The stock has a market cap of $55.30 billion, a PE ratio of -59.13, a PEG ratio of 4.60 and a beta of 1.50. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $69.97 and a 200-day simple moving average of $62.40.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its board has initiated a share buyback program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

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.