US Bancorp DE Has $11.18 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

US Bancorp DE increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 185,347 shares of the semiconductor company’s stock after acquiring an additional 14,651 shares during the period. US Bancorp DE’s holdings in Marvell Technology were worth $11,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SJS Investment Consulting Inc. raised its stake in Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 155 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Marvell Technology by 46.2% in 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 during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Marvell Technology by 532.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 527 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Marvell Technology by 34.7% during the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 161 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in Marvell Technology in the third quarter valued at about $44,000. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the completion of the sale, the chief financial officer now directly owns 101,986 shares in the company, valued at approximately $7,291,999. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 of the company’s stock, valued at approximately $7,291,999. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $66.17, for a total value of $1,985,100.00. Following the transaction, the chief executive officer now directly owns 732,929 shares of the company’s stock, valued at approximately $48,497,911.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,500 shares of company stock valued at $7,522,055. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $76.68 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company’s fifty day simple moving average is $69.23 and its 200-day simple moving average is $65.45. The firm has a market cap of $66.36 billion, a PE ratio of -71.00, a P/E/G ratio of 3.85 and a beta of 1.48.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities research analysts expect that Marvell Technology, Inc. will post 0.73 EPS for the current fiscal year.

Marvell Technology announced that its Board of Directors has authorized a stock repurchase plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s dividend payout ratio is presently -22.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MRVL shares. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Monday, March 4th. Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. 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. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Finally, KeyCorp decreased their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.05.

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.