SlateStone Wealth LLC Lowers Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

SlateStone Wealth LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 78.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,716 shares of the semiconductor company’s stock after selling 13,718 shares during the period. SlateStone Wealth LLC’s holdings in Marvell Technology were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Buck Wealth Strategies LLC grew its stake in shares of Marvell Technology by 1,328.1% during the 3rd 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 during the period. SJS Investment Consulting Inc. increased its position in shares of Marvell Technology by 56.8% during 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. BluePath Capital Management LLC bought a new position in shares of Marvell Technology during the 3rd quarter valued at approximately $31,000. Oliver Lagore Vanvalin Investment Group grew its position 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 valued at $31,000 after acquiring an additional 165 shares during the last quarter. Finally, Whittier Trust Co. grew its position in shares of Marvell Technology by 59.9% during the 3rd 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.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the sale, the executive vice president now owns 21,266 shares in the company, valued at approximately $1,376,973.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction on Monday, April 1st. The stock was 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 disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,477,515 in the last ninety days. Company insiders own 0.45% of the company’s stock.

Marvell Technology Trading Up 2.1 %

Shares of MRVL stock traded up $1.37 during mid-day trading on Wednesday, reaching $65.23. The company’s stock had a trading volume of 1,624,170 shares, compared to its average volume of 13,937,221. The company’s 50 day simple moving average is $69.97 and its 200-day simple moving average is $62.40. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $56.49 billion, a PE ratio of -59.13, a price-to-earnings-growth ratio of 4.60 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. On average, research analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its board has initiated a share 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 repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Marvell Technology Announces Dividend

The company also recently announced 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MRVL. Oppenheimer reissued an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $81.13.

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.