Apollon Wealth Management LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Apollon Wealth Management LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,476 shares of the semiconductor company’s stock after acquiring an additional 1,153 shares during the quarter. Apollon Wealth Management LLC’s holdings in Marvell Technology were worth $2,622,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. SJS Investment Consulting Inc. increased its holdings in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. raised its holdings in Marvell Technology by 23.4% in the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 155 shares in the last quarter. Versant Capital Management Inc boosted its stake in Marvell Technology by 34.7% during the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 161 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 165 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in shares of Marvell Technology by 1.1% in the 4th quarter. New York Life Investment Management LLC now owns 15,862 shares of the semiconductor company’s stock worth $957,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were 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 approximately $8,097,573.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the completion of the sale, the executive vice president now directly owns 119,117 shares in the company, valued at $8,097,573.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 110,500 shares of company stock worth $7,473,805. 0.45% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MRVL shares. Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Morgan Stanley boosted their price target on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Citigroup restated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Finally, Raymond James lifted their price target on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Price Performance

Shares of MRVL stock traded down $1.14 during midday trading on Tuesday, reaching $68.68. 6,449,670 shares of the company were exchanged, compared to its average volume of 13,650,176. The company’s 50 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 $59.48 billion, a P/E ratio of -64.64, a PEG ratio of 5.01 and a beta of 1.48. Marvell Technology, Inc. has a 12 month low of $39.23 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released 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 positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

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

Marvell Technology Dividend Announcement

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