US Bancorp DE increased its position in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 185,347 shares of the semiconductor company’s stock after buying an additional 14,651 shares during the period. US Bancorp DE’s holdings in Marvell Technology were worth $11,178,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its stake in shares of 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 acquiring an additional 155 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its position in shares of Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares during the period. Versant Capital Management Inc lifted its stake in shares of Marvell Technology by 34.7% in the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after buying an additional 161 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Marvell Technology by 532.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after buying an additional 527 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Marvell Technology by 157.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 472 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on MRVL shares. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Evercore ISI began coverage on Marvell Technology in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 price objective for the company. TD Cowen boosted their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group assumed coverage on shares of Marvell Technology in a research report on Monday, May 13th. They set a “buy” rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.05.
View Our Latest Research Report on Marvell Technology
Marvell Technology Trading Up 2.2 %
MRVL opened at $76.68 on Monday. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The stock has a market capitalization of $66.36 billion, a PE ratio of -71.00, a PEG ratio of 3.85 and a beta of 1.48. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $69.23 and a two-hundred day moving average price of $65.45.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.73 earnings per share for the current fiscal year.
Marvell Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.31%. Marvell Technology’s dividend payout ratio is currently -22.22%.
Marvell Technology declared that its Board of Directors has approved a share repurchase plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling at Marvell Technology
In other 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 completion of the sale, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at approximately $7,291,999. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology 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 transaction, the chief executive officer now directly owns 686,545 shares in the company, valued at approximately $47,495,183.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,500 shares of company stock worth $7,522,055. Company insiders own 0.33% of the company’s stock.
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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