Vestmark Advisory Solutions Inc. Acquires 520 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Vestmark Advisory Solutions Inc. increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,854 shares of the semiconductor company’s stock after purchasing an additional 520 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Marvell Technology were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Matrix Capital Management Company LP boosted its holdings in shares of Marvell Technology by 54.3% in the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock valued at $712,720,000 after buying an additional 4,634,127 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Marvell Technology by 43.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after purchasing an additional 2,142,391 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Marvell Technology by 87.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,548,206 shares of the semiconductor company’s stock valued at $246,194,000 after purchasing an additional 2,115,366 shares during the period. Alkeon Capital Management LLC acquired a new position in shares of Marvell Technology during the third quarter worth about $102,847,000. Finally, Rokos Capital Management LLP grew its stake in shares of Marvell Technology by 176.5% during the 3rd quarter. Rokos Capital Management LLP now owns 1,457,044 shares of the semiconductor company’s stock worth $79,977,000 after acquiring an additional 930,158 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was 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 directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 $7,107,958.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the sale, the chief executive officer now directly owns 762,929 shares in the company, valued at $51,627,405.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,500 shares of company stock valued at $7,473,805. 0.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MRVL. B. Riley reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Barclays increased their price objective on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Finally, KeyCorp decreased their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Trading Up 1.9 %

Shares of MRVL stock opened at $69.82 on Tuesday. Marvell Technology, Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $85.76. The stock’s fifty day moving average price is $69.88 and its two-hundred day moving average price is $63.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company has a market cap of $60.46 billion, a PE ratio of -64.65, a P/E/G ratio of 5.01 and a beta of 1.48.

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 business 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%. Marvell Technology’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its board has approved a share buyback program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

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.