Fidelis Capital Partners LLC Takes $281,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Fidelis Capital Partners LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,667 shares of the semiconductor company’s stock, valued at approximately $281,000.

Other hedge funds have also recently modified their holdings of the company. Quilter Plc bought a new stake in shares of Marvell Technology during the 1st quarter valued at $248,250,000. SRS Capital Advisors Inc. boosted its stake 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 in the last quarter. SJS Investment Consulting Inc. boosted its stake 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 in the last quarter. Buck Wealth Strategies LLC boosted its stake 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 in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in 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 in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MRVL shares. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. KeyCorp dropped their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. TD Cowen upped their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Raymond James upped their target price on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Citigroup restated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $81.13.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction 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 approximately $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the completion of the transaction, the chief executive officer now directly owns 716,545 shares in the company, valued at approximately $49,312,626.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred 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 transaction, 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. Insiders sold a total of 108,000 shares of company stock valued at $7,315,640 in the last three months. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 4.8 %

Marvell Technology stock opened at $62.13 on Friday. The firm has a 50 day moving average of $70.12 and a 200 day moving average of $62.20. The firm has a market capitalization of $53.80 billion, a price-to-earnings ratio of -57.53, a P/E/G ratio of 4.77 and a beta of 1.50. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76. 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 announced 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 business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $0.34 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Announces Dividend

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 issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -22.22%.

Marvell Technology announced that its Board of Directors has initiated a share repurchase program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually 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.