Sumitomo Mitsui Trust Holdings Inc. Lowers Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,114,496 shares of the semiconductor company’s stock after selling 727 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Marvell Technology worth $127,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Buck Wealth Strategies LLC raised its position in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 425 shares during the last quarter. SRS Capital Advisors Inc. increased 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 acquiring an additional 281 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at about $28,000. Finally, BluePath Capital Management LLC purchased a new position in shares of Marvell Technology during the third quarter valued at about $31,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $67.88 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The stock has a market cap of $58.78 billion, a price-to-earnings ratio of -62.85, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. The firm has a 50-day moving average of $70.40 and a two-hundred day moving average of $61.99. Marvell Technology, Inc. has a 1 year low of $36.90 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. Marvell Technology’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, research analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Insider Buying and Selling

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the transaction, the executive vice president now owns 119,117 shares in the company, valued at $8,097,573.66. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock valued at $4,894,790 over the last three months. 0.45% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on MRVL. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.96.

Marvell Technology Profile

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.