Kestra Private Wealth Services LLC Trims Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Kestra Private Wealth Services LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,257 shares of the semiconductor company’s stock after selling 962 shares during the period. Kestra Private Wealth Services LLC’s holdings in Marvell Technology were worth $920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MRVL. Buck Wealth Strategies LLC raised its holdings 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 acquiring an additional 425 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in shares of 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 during the period. BluePath Capital Management LLC bought a new stake in shares of Marvell Technology during the 3rd quarter valued at about $31,000. Oliver Lagore Vanvalin Investment Group increased 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 valued at $31,000 after buying an additional 165 shares during the period. Finally, Whittier Trust Co. raised its stake in Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $68.51 on Friday. Marvell Technology, Inc. has a 1 year low of $38.63 and a 1 year high of $85.76. The firm has a fifty day moving average price of $69.85 and a 200-day moving average price of $63.12. 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 data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (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 firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -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 Ratings Changes

Several analysts have commented on MRVL shares. Evercore ISI started coverage on shares of Marvell Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Barclays raised their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.13.

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 filing with the SEC, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,500 shares of company stock worth $7,473,805. 0.45% of the stock is owned by corporate insiders.

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.