Kovack Advisors Inc. Purchases 205 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Kovack Advisors Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,030 shares of the semiconductor company’s stock after purchasing an additional 205 shares during the period. Kovack Advisors Inc.’s holdings in Marvell Technology were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in Marvell Technology by 43.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after buying an additional 2,142,391 shares during the period. Kingswood Wealth Advisors LLC increased its position in Marvell Technology by 328.3% during the third quarter. Kingswood Wealth Advisors LLC now owns 23,949 shares of the semiconductor company’s stock worth $1,296,000 after acquiring an additional 18,357 shares during the period. Fred Alger Management LLC raised its stake in Marvell Technology by 2.4% in the 3rd quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock worth $218,499,000 after purchasing an additional 95,003 shares in the last quarter. NewEdge Wealth LLC raised its stake in Marvell Technology by 15.6% in the 3rd quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 973 shares in the last quarter. Finally, Montag A & Associates Inc. boosted its holdings in Marvell Technology by 15.8% in the 3rd quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company’s stock valued at $3,510,000 after purchasing an additional 8,836 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL opened at $68.75 on Tuesday. Marvell Technology, Inc. has a twelve month low of $38.63 and a twelve month high of $85.76. The company has a fifty day moving average of $69.92 and a 200-day moving average of $62.83. 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 issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its board has initiated a share buyback program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Marvell Technology Dividend Announcement

The firm also recently declared 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. This represents a $0.24 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Insider Activity

In related 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 value of $2,030,100.00. Following the transaction, the chief executive officer now directly owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 of the company’s stock, valued at $51,627,405.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,477,515 over the last quarter. 0.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MRVL shares. Barclays lifted their price target on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. UBS Group increased their target price on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Citigroup restated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, KeyCorp cut their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Company 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.