Octavia Wealth Advisors LLC Purchases 206 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Octavia Wealth Advisors LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,443 shares of the semiconductor company’s stock after buying an additional 206 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Marvell Technology were worth $328,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Quilter Plc acquired a new stake in Marvell Technology in the 1st quarter worth approximately $248,250,000. SRS Capital Advisors Inc. lifted its holdings in Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 281 shares during the last quarter. SJS Investment Consulting Inc. lifted 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 worth $26,000 after purchasing an additional 155 shares during the last quarter. Buck Wealth Strategies LLC lifted its holdings in 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 last quarter. Finally, BluePath Capital Management LLC acquired a new stake in Marvell Technology in the 3rd quarter worth approximately $31,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MRVL. Morgan Stanley boosted their target price on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. UBS Group upped their price target on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Finally, StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Insider Activity

In other news, 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 completion of the sale, the chief financial officer now directly owns 103,986 shares in the company, valued at $7,091,845.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 762,929 shares in the company, valued at $51,627,405.43. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were 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 owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,000 shares of company stock worth $4,894,790. 0.45% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Marvell Technology stock opened at $68.28 on Wednesday. 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 stock has a fifty day moving average price of $70.43 and a two-hundred day moving average price of $62.09. Marvell Technology, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76. The firm has a market capitalization of $59.13 billion, a P/E ratio of -63.22, a P/E/G ratio of 4.96 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm 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 company posted $0.34 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s dividend payout ratio is currently -22.22%.

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

Marvell Technology 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.