Bank Julius Baer & Co. Ltd Zurich Buys 30,800 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Bank Julius Baer & Co. Ltd Zurich raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 116.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,313 shares of the semiconductor company’s stock after purchasing an additional 30,800 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Marvell Technology were worth $3,457,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Matrix Capital Management Company LP lifted its position in shares of Marvell Technology by 54.3% in the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock valued at $712,720,000 after buying an additional 4,634,127 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Marvell Technology by 43.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after purchasing an additional 2,142,391 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Marvell Technology by 87.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,548,206 shares of the semiconductor company’s stock worth $246,194,000 after purchasing an additional 2,115,366 shares during the last quarter. Alkeon Capital Management LLC acquired a new stake in Marvell Technology during the 3rd quarter worth approximately $102,847,000. Finally, Rokos Capital Management LLP lifted its holdings in Marvell Technology by 176.5% during the 3rd quarter. Rokos Capital Management LLP now owns 1,457,044 shares of the semiconductor company’s stock worth $79,977,000 after purchasing an additional 930,158 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MRVL has been the subject of several research reports. KeyCorp dropped their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Morgan Stanley lifted their price objective on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Trading Up 3.2 %

Shares of MRVL stock opened at $69.62 on Friday. The firm has a market capitalization of $60.29 billion, a P/E ratio of -64.46, a P/E/G ratio of 4.94 and a beta of 1.50. Marvell Technology, Inc. has a twelve month low of $37.71 and a twelve month high of $85.76. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $69.80 and its 200 day simple moving average is $62.51.

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

Marvell Technology Dividend Announcement

The business 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. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s payout ratio is presently -22.22%.

Marvell Technology declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $64.75, for a total transaction of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares of the company’s stock, valued at approximately $1,376,973.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $66.17, for a total value of $1,985,100.00. Following the transaction, the chief executive officer now directly owns 732,929 shares of the company’s stock, valued at approximately $48,497,911.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at $1,376,973.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,500 shares of company stock valued at $7,477,515. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Company 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.