Daiwa Securities Group Inc. Has $6.31 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Daiwa Securities Group Inc. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,639 shares of the semiconductor company’s stock after selling 14,620 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Marvell Technology were worth $6,311,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in Marvell Technology in the 4th quarter valued at $263,000. Quantum Private Wealth LLC increased its position in shares of Marvell Technology by 1.0% in the fourth quarter. Quantum Private Wealth LLC now owns 34,227 shares of the semiconductor company’s stock valued at $2,064,000 after acquiring an additional 335 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Marvell Technology by 74.9% during the fourth quarter. Avior Wealth Management LLC now owns 3,269 shares of the semiconductor company’s stock worth $197,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Marvell Technology by 146.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 428,258 shares of the semiconductor company’s stock valued at $25,828,000 after purchasing an additional 254,810 shares during the last quarter. Finally, Octavia Wealth Advisors LLC grew its stake in Marvell Technology by 3.9% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,443 shares of the semiconductor company’s stock valued at $328,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $71.25, for a total value of $356,250.00. Following the transaction, the executive vice president now owns 109,117 shares in the company, valued at $7,774,586.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’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 completion of 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 SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The disclosure for this sale can be found here. In the last three months, insiders sold 108,000 shares of company stock worth $7,315,640. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $62.13 on Friday. Marvell Technology, Inc. has a 52 week low of $36.90 and a 52 week high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The firm’s 50-day simple moving average is $70.12 and its 200 day simple moving average is $62.20. The firm has a market cap of $53.80 billion, a price-to-earnings ratio of -57.53, a P/E/G ratio of 4.77 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology announced that its Board of Directors has authorized 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 buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 annualized dividend and a yield of 0.39%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MRVL. Citigroup reiterated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. KeyCorp cut their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. B. Riley restated a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Finally, UBS Group boosted their price target on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

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.