Freemont Management S.A. Trims Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Freemont Management S.A. lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 83.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,100 shares of the semiconductor company’s stock after selling 59,600 shares during the period. Freemont Management S.A.’s holdings in Marvell Technology were worth $846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. Vanguard Group Inc. boosted its holdings in shares of Marvell Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after purchasing an additional 468,086 shares during the period. Capital Research Global Investors raised its position in Marvell Technology by 0.5% during the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after acquiring an additional 185,479 shares in the last quarter. Matrix Capital Management Company LP raised its stake in shares of Marvell Technology by 14.3% during the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock worth $907,997,000 after buying an additional 1,888,676 shares during the period. Brown Advisory Inc. raised its position in shares of Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock worth $890,475,000 after purchasing an additional 3,036,495 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MRVL shares. Evercore ISI lifted their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Bank of America raised their target price on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Jefferies Financial Group began coverage on Marvell Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $85.00 price objective for the company. Morgan Stanley lifted their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $2.06 during midday trading on Monday, reaching $68.26. 627,364 shares of the stock were exchanged, compared to its average volume of 12,565,103. The company’s 50 day moving average is $68.15 and its two-hundred day moving average is $69.64. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. Research analysts expect that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares in the company, valued at $8,466,647.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. Insiders have sold a total of 65,500 shares of company stock valued at $4,872,620 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.