EverSource Wealth Advisors LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 84.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,331 shares of the semiconductor company’s stock after acquiring an additional 608 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Marvell Technology were worth $80,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. lifted its holdings in shares of Marvell Technology by 56.8% in 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. Blue Trust Inc. raised its position in Marvell Technology by 23.4% during the fourth 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 period. Versant Capital Management Inc lifted its stake in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 161 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its position in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 165 shares during the period. Finally, New York Life Investment Management LLC grew its stake in Marvell Technology by 1.1% during the 4th quarter. New York Life Investment Management LLC now owns 15,862 shares of the semiconductor company’s stock valued at $957,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.
Insider Buying and Selling
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $69.18, for a total transaction of $2,075,400.00. Following the sale, the chief executive officer now directly owns 686,545 shares in the company, valued at $47,495,183.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was 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 of the company’s stock, valued at $7,107,958.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,500 shares of company stock valued at $7,522,055. 0.33% of the stock is owned by company insiders.
Analysts Set New Price Targets
MRVL has been the subject of a number of research analyst reports. Evercore ISI started coverage on shares of Marvell Technology in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. KeyCorp lowered their target price on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Morgan Stanley raised their price target on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. One equities research 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 MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $84.05.
View Our Latest Stock Analysis on Marvell Technology
Marvell Technology Stock Up 2.2 %
MRVL stock opened at $76.68 on Monday. The stock has a market capitalization of $66.36 billion, a price-to-earnings ratio of -71.00, a price-to-earnings-growth ratio of 3.85 and a beta of 1.48. The company has a 50-day moving average of $69.23 and a two-hundred day moving average of $65.45. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.73 EPS for the current year.
Marvell Technology declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Marvell Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -22.22%.
About Marvell Technology
(Free Report)
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.
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