Wellington Management Group LLP Decreases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Wellington Management Group LLP trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,351,640 shares of the semiconductor company’s stock after selling 196,566 shares during the period. Wellington Management Group LLP owned 0.50% of Marvell Technology worth $262,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. SJS Investment Consulting Inc. boosted its position in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. boosted its position in Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 155 shares during the last quarter. Versant Capital Management Inc boosted its position in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 161 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after buying an additional 162 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in 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 buying an additional 165 shares during 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 firms have weighed in on MRVL. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. 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. Stifel Nicolaus upped their target price on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. UBS Group upped their target price on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Morgan Stanley upped their target price on shares of Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 115,318 shares in the company, valued at $8,466,647.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the completion of the transaction, the chief financial officer now directly owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,500 shares of company stock worth $5,504,065. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $73.14 on Wednesday. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The stock has a market cap of $63.31 billion, a price-to-earnings ratio of -64.73, a price-to-earnings-growth ratio of 3.47 and a beta of 1.46. The company has a 50-day moving average price of $69.90 and a two-hundred day moving average price of $67.53.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results 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 negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. Marvell Technology’s quarterly revenue was down 12.2% on a year-over-year basis. Analysts forecast that Marvell Technology, Inc. will post 0.75 EPS for the current year.

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

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.