Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Greenleaf Trust

Greenleaf Trust boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,327 shares of the semiconductor company’s stock after acquiring an additional 280 shares during the period. Greenleaf Trust’s holdings in Marvell Technology were worth $382,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. increased its position in Marvell Technology by 56.8% during 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 during the period. Blue Trust Inc. increased its position in Marvell Technology by 23.4% during the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 155 shares during the period. Versant Capital Management Inc increased its position in Marvell Technology by 34.7% during the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 161 shares during the period. Oliver Lagore Vanvalin Investment Group increased 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 purchasing an additional 165 shares during the period. Finally, Insight Inv LLC increased its position in Marvell Technology by 0.5% during the 4th quarter. Insight Inv LLC now owns 37,620 shares of the semiconductor company’s stock worth $2,269,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares of the company’s stock, valued at approximately $1,376,973.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the sale, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,500 shares of company stock valued at $7,477,515. 0.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Evercore ISI initiated coverage on Marvell Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Barclays upped their price target on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. KeyCorp lowered their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Finally, Citigroup restated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Trading Up 1.6 %

Shares of Marvell Technology stock opened at $63.86 on Wednesday. Marvell Technology, Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $85.76. The business’s fifty day moving average is $69.97 and its two-hundred day moving average is $62.40. 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) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion for 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%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. On average, research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

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

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -22.22%.

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.