Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,079 shares of the semiconductor company’s stock after acquiring an additional 718 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $1,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caprock Group LLC increased its holdings in shares of Marvell Technology by 7.5% during the 3rd quarter. Caprock Group LLC now owns 4,755 shares of the semiconductor company’s stock valued at $257,000 after purchasing an additional 330 shares in the last quarter. L. Roy Papp & Associates LLP increased its holdings in Marvell Technology by 3.0% in the 3rd quarter. L. Roy Papp & Associates LLP now owns 105,901 shares of the semiconductor company’s stock worth $5,732,000 after acquiring an additional 3,100 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in Marvell Technology in the 3rd quarter worth $38,595,000. Handelsbanken Fonder AB increased its holdings in Marvell Technology by 2.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 273,760 shares of the semiconductor company’s stock worth $14,819,000 after acquiring an additional 7,193 shares in the last quarter. Finally, Simplicity Solutions LLC increased its holdings in Marvell Technology by 2.6% in the 3rd quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company’s stock worth $630,000 after acquiring an additional 290 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Friday, April 19th. The stock was 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 owns 21,266 shares in the company, valued at approximately $1,376,973.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The stock was 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 of the company’s stock, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the transaction, the executive vice president now owns 21,266 shares of the company’s stock, valued at approximately $1,376,973.50. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,477,515 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Up 1.7 %

Shares of Marvell Technology stock traded up $1.18 on Friday, hitting $68.66. 1,356,763 shares of the company’s stock traded hands, compared to its average volume of 13,849,357. 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 market cap of $59.46 billion, a P/E ratio of -62.48, a PEG ratio of 4.74 and a beta of 1.50. Marvell Technology, Inc. has a 52-week low of $37.71 and a 52-week high of $85.76. The firm’s 50-day moving average is $69.80 and its 200 day moving average is $62.48.

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

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

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. Marvell Technology’s payout ratio is -22.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. UBS Group upped their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, February 26th. B. Riley reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Raymond James upped their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Roth Mkm reissued 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.13.

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.