Marvell Technology, Inc. (NASDAQ:MRVL) Position Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 491,697 shares of the semiconductor company’s stock after purchasing an additional 3,771 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Marvell Technology were worth $29,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Buck Wealth Strategies LLC boosted 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 worth $25,000 after acquiring an additional 425 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in 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 period. BluePath Capital Management LLC purchased a new stake in shares of Marvell Technology in the third quarter valued at $31,000. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in 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 acquiring an additional 226 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Up 3.2 %

Shares of NASDAQ MRVL traded up $2.14 during midday trading on Friday, reaching $69.62. 11,533,484 shares of the stock were exchanged, compared to its average volume of 13,984,725. Marvell Technology, Inc. has a 12 month low of $37.71 and a 12 month high of $85.76. 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 company has a market capitalization of $60.29 billion, a price-to-earnings ratio of -63.67, a P/E/G ratio of 4.74 and a beta of 1.50. The business has a 50-day simple moving average of $69.80 and a two-hundred day simple moving average of $62.51.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology declared that its Board of Directors has approved a share buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total transaction of $161,875.00. Following the transaction, 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 document filed 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 Marvell Technology stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the transaction, the executive vice president now directly owns 21,266 shares of the company’s stock, valued at approximately $1,376,973.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the completion of the transaction, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders have sold a total of 110,500 shares of company stock valued at $7,477,515 in the last three months. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on MRVL shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Saturday, April 20th. Barclays raised their target price on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Finally, Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price 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.