Fisher Asset Management LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Fisher Asset Management LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,165,527 shares of the semiconductor company’s stock after buying an additional 5,428 shares during the period. Fisher Asset Management LLC owned about 0.25% of Marvell Technology worth $130,603,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. increased its position in shares of Marvell Technology by 56.8% in the 4th 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 last quarter. Oliver Lagore Vanvalin Investment Group raised its stake 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 buying an additional 165 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Marvell Technology by 34.7% during the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after buying an additional 161 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 527 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Marvell Technology by 157.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 472 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $68.82, for a total value of $2,064,600.00. Following the transaction, the chief executive officer now owns 716,545 shares in the company, valued at $49,312,626.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the completion of the sale, the executive vice president now directly owns 109,117 shares of the company’s stock, valued at $7,774,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the completion of the transaction, the chief executive officer now directly owns 716,545 shares in the company, valued at $49,312,626.90. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock valued at $5,204,755 in the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL traded up $0.40 during trading on Friday, reaching $73.27. The stock had a trading volume of 6,029,807 shares, compared to its average volume of 11,618,774. The stock has a 50 day moving average of $69.90 and a two-hundred day moving average of $67.27. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $63.42 billion, a price-to-earnings ratio of -64.84, a price-to-earnings-growth ratio of 3.47 and a beta of 1.46. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.

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

Marvell Technology declared that its board has authorized a stock repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MRVL shares. Oppenheimer restated an “outperform” rating and set a $90.00 price objective (up from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. UBS Group boosted their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, February 26th. TD Cowen raised their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Morgan Stanley upped their target price on Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Finally, KeyCorp cut their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.