National Bank of Canada FI Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

National Bank of Canada FI increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 38.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 781,510 shares of the semiconductor company’s stock after purchasing an additional 217,529 shares during the quarter. National Bank of Canada FI owned 0.09% of Marvell Technology worth $45,460,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. SJS Investment Consulting Inc. raised its position in shares of Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Blue Trust Inc. boosted its stake 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 last quarter. Versant Capital Management Inc raised its position in Marvell Technology by 34.7% during the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 161 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position in Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares during the period. Finally, New York Life Investment Management LLC raised its position in Marvell Technology by 1.1% during the fourth quarter. New York Life Investment Management LLC now owns 15,862 shares of the semiconductor company’s stock valued at $957,000 after purchasing an additional 171 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the sale, the chief executive officer now owns 762,929 shares in the company, valued at $51,627,405.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the sale, the chief financial officer now owns 110,218 shares in the company, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,500 shares of company stock worth $7,473,805. 0.45% of the stock is owned by company insiders.

Marvell Technology Stock Performance

MRVL traded up $0.60 on Monday, reaching $69.11. The company had a trading volume of 2,468,339 shares, compared to its average volume of 13,678,688. Marvell Technology, Inc. has a 1 year low of $39.23 and a 1 year high of $85.76. The stock has a market capitalization of $59.85 billion, a PE ratio of -64.00, a P/E/G ratio of 5.01 and a beta of 1.48. 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 has a 50-day moving average price of $69.85 and a 200-day moving average price of $63.21.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its Board of Directors has approved a share buyback 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 reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s payout ratio is currently -22.22%.

Analyst Upgrades and Downgrades

MRVL has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price target on shares of Marvell Technology in a report on Friday, April 12th. UBS Group raised their price objective on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Barclays raised their price objective on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. TD Cowen raised their price objective on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Finally, Oppenheimer restated an “outperform” rating and set a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

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.