Tandem Capital Management Corp ADV Sells 1,080 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Tandem Capital Management Corp ADV lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,665 shares of the semiconductor company’s stock after selling 1,080 shares during the quarter. Marvell Technology accounts for about 1.2% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 29th biggest position. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $1,910,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MRVL. IFP Advisors Inc raised its holdings in shares of Marvell Technology by 11.0% in the 3rd quarter. IFP Advisors Inc now owns 6,389 shares of the semiconductor company’s stock worth $346,000 after buying an additional 634 shares in the last quarter. Caprock Group LLC raised its stake in Marvell Technology by 7.5% during the third quarter. Caprock Group LLC now owns 4,755 shares of the semiconductor company’s stock worth $257,000 after acquiring an additional 330 shares in the last quarter. Occidental Asset Management LLC lifted its holdings in shares of Marvell Technology by 6.2% during the third quarter. Occidental Asset Management LLC now owns 21,926 shares of the semiconductor company’s stock valued at $1,187,000 after acquiring an additional 1,278 shares during the period. L. Roy Papp & Associates LLP boosted its stake in shares of Marvell Technology by 3.0% in the 3rd quarter. L. Roy Papp & Associates LLP now owns 105,901 shares of the semiconductor company’s stock valued at $5,732,000 after purchasing an additional 3,100 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Marvell Technology in the 3rd quarter valued at $38,595,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 4.1 %

MRVL stock traded up $2.63 during mid-day trading on Thursday, hitting $67.48. 12,328,335 shares of the company were exchanged, compared to its average volume of 14,014,941. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology, Inc. has a 1-year low of $37.42 and a 1-year high of $85.76. The firm’s 50 day simple moving average is $69.80 and its 200 day simple moving average is $62.48. The firm has a market cap of $58.44 billion, a P/E ratio of -62.01, a P/E/G ratio of 4.67 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting 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 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 business earned $0.34 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts predict 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. Stockholders of record on Friday, April 12th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s payout ratio is presently -22.22%.

Marvell Technology announced that its board has initiated a stock 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 of directors believes its stock is undervalued.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,291,999. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares of the company’s stock, valued at $7,291,999. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00. Following the completion of the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at $1,376,973.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,500 shares of company stock valued at $7,477,515. 0.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on MRVL. UBS Group lifted their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, February 26th. B. Riley reissued a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. TD Cowen raised their price target on Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, March 8th. KeyCorp cut their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Company 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.