Tokio Marine Asset Management Co. Ltd. Purchases 333 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,512 shares of the semiconductor company’s stock after acquiring an additional 333 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Marvell Technology were worth $1,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC increased its stake in shares of Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after buying an additional 3,993,414 shares during the period. Whale Rock Capital Management LLC acquired a new position in Marvell Technology in the 1st quarter valued at approximately $181,559,000. Ameriprise Financial Inc. increased its holdings in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the period. Swedbank AB raised its position in Marvell Technology by 653.5% during the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after purchasing an additional 2,024,269 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Marvell Technology by 13.4% in the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after acquiring an additional 1,591,874 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $90.70 on Friday. 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 52 week low of $50.35 and a 52 week high of $95.09. The firm’s 50-day simple moving average is $78.45 and its two-hundred day simple moving average is $72.56.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting 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 business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,500 shares of company stock worth $20,230,710. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRVL. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Loop Capital initiated coverage on shares of Marvell Technology in a report on Monday. They issued a “hold” rating and a $95.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Finally, Morgan Stanley upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

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.