Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 27.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,090 shares of the semiconductor company’s stock after buying an additional 8,938 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marvell Technology were worth $2,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its holdings in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. Buck Wealth Strategies LLC grew its holdings in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in Marvell Technology by 46.2% in 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 in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 161 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in shares of Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 527 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.2 %

Shares of NASDAQ MRVL opened at $76.68 on Friday. The firm’s 50-day simple moving average is $69.23 and its 200 day simple moving average is $65.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

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. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $0.34 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.73 EPS for the current year.

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

Marvell Technology Announces Dividend

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. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.31%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.44, for a total value of $332,200.00. Following the transaction, the executive vice president now owns 114,117 shares of the company’s stock, valued at approximately $7,581,933.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00. Following the sale, the executive vice president now directly owns 114,117 shares of the company’s stock, valued at $7,581,933.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the completion of the transaction, the chief financial officer now owns 110,218 shares of the company’s stock, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,500 shares of company stock worth $7,522,055. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MRVL. Jefferies Financial Group initiated coverage on Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 price objective on the stock. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. B. Riley restated a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Morgan Stanley lifted their price target on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.28.

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.