Syon Capital LLC Invests $217,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Syon Capital LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel reports. The fund acquired 3,593 shares of the semiconductor company’s stock, valued at approximately $217,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Marvell Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock valued at $3,813,546,000 after purchasing an additional 477,731 shares during the last quarter. Capital Research Global Investors grew its position in Marvell Technology by 0.5% during the 4th quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after purchasing an additional 185,479 shares during the last quarter. Matrix Capital Management Company LP grew its position in 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 valued at $907,997,000 after purchasing an additional 1,888,676 shares during the last quarter. Brown Advisory Inc. grew its position in Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock valued at $890,475,000 after purchasing an additional 3,036,495 shares during the last quarter. Finally, Norges Bank purchased a new stake in Marvell Technology during the 4th quarter valued at about $511,215,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the transaction, the chief financial officer now owns 101,986 shares of the company’s stock, valued at $7,291,999. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $2,064,600.00. Following the sale, 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. Also, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the sale, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock valued at $5,504,065 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on MRVL. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Monday, March 4th. Evercore ISI upped their target price on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Barclays upped their target price on shares of Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Finally, TD Cowen upped their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $73.14 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a market capitalization of $63.31 billion, a P/E ratio of -64.73, a P/E/G ratio of 3.47 and a beta of 1.46. The firm’s 50 day simple moving average is $69.90 and its two-hundred day simple moving average is $67.53.

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

Marvell Technology announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.