Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 55.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,849 shares of the semiconductor company’s stock after selling 8,480 shares during the period. Sigma Planning Corp’s holdings in Marvell Technology were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. Buck Wealth Strategies LLC increased its holdings in Marvell Technology by 1,328.1% in 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 in the last quarter. SJS Investment Consulting Inc. increased its holdings in 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 buying an additional 155 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Marvell Technology during the 3rd quarter worth approximately $31,000. Oliver Lagore Vanvalin Investment Group increased its stake in shares of 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 in the last quarter. Finally, Whittier Trust Co. increased its stake in shares of Marvell Technology by 59.9% during the 3rd quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology 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 transaction, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology 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 transaction, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Friday, April 19th. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00. Following the transaction, the executive vice president now owns 21,266 shares in the company, valued at approximately $1,376,973.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,500 shares of company stock worth $7,477,515. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 3.2 %

Shares of MRVL opened at $69.62 on Friday. The company’s fifty day moving average is $69.80 and its two-hundred day moving average is $62.51. Marvell Technology, Inc. has a fifty-two week low of $37.71 and a fifty-two week high of $85.76. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $1.43 billion for 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%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its Board of Directors has approved a share repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued 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 0.34%. Marvell Technology’s payout ratio is -22.22%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Monday, March 4th. Finally, TD Cowen lifted their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.13.

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.