2023-04-28
On April 28, 2023, Asset Management One Co. Ltd. announced a decrease in its holdings of Marvell Technology, Inc (NASDAQ:MRVL). According to the company’s latest filing with the Securities and Exchange Commission (SEC), Asset Management One Co. Ltd. sold 16,183 shares of MRVL during the fourth quarter, resulting in a 4.5% reduction in its overall holdings.
As of their most recent SEC filing, Asset Management One Co. Ltd.’s remaining holdings in Marvell Technology were worth $12,707,000. While this marks a reduction for Asset Management One Co. Ltd., it remains to be seen whether other institutional investors had similar activity in MRVL or if they still see potential growth prospects for the semiconductor company.
This news comes on the heels of significant insider transactions involving MRVL stock earlier this year. In February 2023 alone, EVP Dean E. Jr. Jarnac sold 6,000 shares for a total value of $270,000 and Muhammad Raghib Hussain sold 46,200 shares for approximately $1,950,564.
These insider sales may concern some investors who interpret them as disinterest in holding onto Marvell Technology stock at present valuations or even a lack of confidence among executives.
Nonetheless, MRVL’s opening price on Friday was $38.63, within reach of its one-year low of $33.75 but far from its high mark of $63.11 over the same period.
Marvell Technology maintains a debt-to-equity ratio of only 0.25 and strong liquidity positions with both quick and current ratios exceeding industry standards; however today’s market remains uncertain when looking at short term investments due to political unrest and pressures caused by general economic trends globally . As always with investing decisions make sure you do your due diligence on any opportunities that may arise before making final judgments about buying or selling any stock.
Institutional Investors and Insiders Show Mixed Activity in Marvell Technology while Financial Results are Reported for Q4
Marvell Technology, a leading US semiconductor company, has seen modifications in their holdings by various institutional investors. Lido Advisors LLC increased their stake in the company by 1.6% during Q3, owning 15,599 shares worth $669,000 after last quarter’s acquisition of an additional 251 shares. Allworth Financial LP lifted its stake in Marvell Technology by 10.3% during Q4 and now owns 2,787 shares worth $103,000 after purchasing another 260 shares. Furthermore, Bank Julius Baer & Co., Ltd Zurich grew their stake in the semiconductor firm by 0.9% during Q3, reaching ownership of $1,299 million worth of stock after buying an additional 284 shares compared to the previous period.
Marvell Technology has been rated as a “Moderate Buy” and currently receives an average target price of $58 from Bloomberg data, which is concluded from three analysts rating the stock as “hold,” and twenty-two rating it as “buy.” In other news, EVP Dean E Jr Jarnac sold 6k shares of Marvell Technology’s stock on Wednesday 1st of February; the stock was sold at an average price of $45.00 for a total value of $270k. Muhammad Raghib Hussain insider also sold a total of 46.2k Marvell Techonology’s stocks for $1.95m on Tuesday January 31st.
Marvell Technology recently announced its financial results for Q4 ending March second and reported missing consensus estimates with its earning per share (EPS) being $0.01 lower than at $0.46 causing negative net margin ratio (-2.76%), although it delivered positive return on equity (8.46%). The organisation recorded revenue at USD$1.42bn over the last quarter compared with analyst estimate consensus of USD$1.41bn; revenue was up 5.6% from the same period last year.
On the other hand, The Securities and Exchange Commission (SEC) filing reports show that insiders have sold a total of 58.9k shares valued at $2.53m worth of stock in the company over the past three months as at April 28th, 2023. Marvell paid a quarterly dividend of USD$0.06 to its shareholders of record on April seventh, with ex-dividend dated April fifth, totaling USD$0.24 per share on an annualised basis with a current yield rate of 0.62%.