Sequoia Financial Advisors LLC Purchases 2,114 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sequoia Financial Advisors LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,934 shares of the semiconductor company’s stock after acquiring an additional 2,114 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Marvell Technology were worth $720,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Buck Wealth Strategies LLC increased its stake in shares of Marvell Technology by 1,328.1% in the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 425 shares during the period. SRS Capital Advisors Inc. grew its holdings in Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 281 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings 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. Resurgent Financial Advisors LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $28,000. Finally, BluePath Capital Management LLC acquired a new position in shares of Marvell Technology during the third quarter worth approximately $31,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $67.88 on Tuesday. The company has a 50 day moving average of $70.40 and a 200-day moving average of $61.99. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 1-year low of $36.90 and a 1-year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $0.34 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its board has authorized 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s payout ratio is -22.22%.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction 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 of the company’s stock, valued at $7,291,999. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.44, for a total value of $332,200.00. Following the transaction, the executive vice president now owns 114,117 shares of the company’s stock, valued at $7,581,933.48. The disclosure for this sale can be found here. In the last three months, insiders sold 73,000 shares of company stock valued at $4,894,790. 0.45% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MRVL shares. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a research note on Monday, March 4th. KeyCorp decreased their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price on shares of Marvell Technology in a research note on Friday. Finally, Raymond James boosted their price target on Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.96.

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.