Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,935,630 shares of the semiconductor company’s stock after acquiring an additional 892,277 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Marvell Technology were worth $478,598,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Buck Wealth Strategies LLC boosted its position in shares of Marvell Technology by 1,328.1% in the third 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. lifted its stake in shares of Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares in the last quarter. Whittier Trust Co. boosted its stake in Marvell Technology by 59.9% during the third 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. Finally, Raleigh Capital Management Inc. boosted its stake in Marvell Technology by 532.3% during the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after buying an additional 527 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 0.8 %

NASDAQ:MRVL traded up $0.55 on Monday, hitting $69.02. 5,260,463 shares of the stock were exchanged, compared to its average volume of 13,426,348. 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 52 week low of $40.19 and a 52 week high of $85.76. The stock has a market capitalization of $59.74 billion, a price-to-earnings ratio of -63.91, a P/E/G ratio of 5.01 and a beta of 1.48. The company’s 50-day moving average price is $69.41 and its 200 day moving average price is $64.04.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. Marvell Technology’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio is -22.22%.

Insider Activity

In other news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the sale, the executive vice president now owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the sale, the executive vice president now directly owns 21,266 shares in the company, valued at $1,376,973.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the transaction, the executive vice president now owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,473,805 in the last quarter. Company insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a research note on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Citigroup reiterated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, Raymond James boosted 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. Two equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $81.28.

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.