Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 24,180,000 shares, an increase of 35.8% from the March 31st total of 17,810,000 shares. Based on an average daily volume of 14,020,000 shares, the short-interest ratio is presently 1.7 days.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the transaction, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the completion of the sale, the chief executive officer now directly owns 762,929 shares in the company, valued at $51,627,405.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the transaction, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,500 shares of company stock valued at $7,477,515. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Buck Wealth Strategies LLC boosted its holdings in shares of Marvell Technology by 1,328.1% in the 3rd 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. SJS Investment Consulting Inc. boosted its stake in shares of 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. Bruce G. Allen Investments LLC raised its position in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Marvell Technology in the third quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in shares of Marvell Technology by 46.2% during the fourth 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 last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 3.2 %

Shares of MRVL stock opened at $69.62 on Friday. 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 company’s fifty day moving average price is $69.87 and its 200-day moving average price is $62.62. The company has a market capitalization of $60.29 billion, a price-to-earnings ratio of -64.46, a PEG ratio of 4.94 and a beta of 1.50. Marvell Technology has a one year low of $37.71 and a one year high of $85.76.

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

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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRVL shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Citigroup restated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. TD Cowen increased their target price on Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. Barclays lifted their target price on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.13.

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.