Gulf International Bank UK Ltd Has $5.25 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Gulf International Bank UK Ltd lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,107 shares of the semiconductor company’s stock after purchasing an additional 594 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Marvell Technology were worth $5,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. SJS Investment Consulting Inc. boosted its stake in shares of Marvell Technology by 56.8% during the fourth 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 in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Marvell Technology by 46.2% in the 4th 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 last quarter. Raleigh Capital Management Inc. grew its holdings in Marvell Technology by 532.3% during 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 during the period. Finally, Optimum Investment Advisors acquired a new stake in Marvell Technology during the first quarter worth approximately $35,000. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now owns 101,986 shares in the company, valued at $7,291,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 109,117 shares of the company’s stock, valued at $7,774,586.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,500 shares of company stock worth $5,504,065. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $71.89 on Friday. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The stock’s 50-day simple moving average is $70.00 and its 200 day simple moving average is $67.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The stock has a market capitalization of $62.23 billion, a price-to-earnings ratio of -63.62, a price-to-earnings-growth ratio of 3.47 and a beta of 1.46.

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

Marvell Technology declared that its board has approved a stock repurchase program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.00.

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.