Insight Inv LLC Has $2.27 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Insight Inv LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,620 shares of the semiconductor company’s stock after buying an additional 180 shares during the quarter. Marvell Technology accounts for approximately 2.2% of Insight Inv LLC’s holdings, making the stock its 11th largest holding. Insight Inv LLC’s holdings in Marvell Technology were worth $2,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. West Tower Group LLC bought a new stake in shares of Marvell Technology during the second quarter worth $25,000. Buck Wealth Strategies LLC increased its holdings in 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 purchasing an additional 425 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 281 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Marvell Technology by 56.8% in 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. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at about $28,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen increased their price objective on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Cantor Fitzgerald initiated coverage on shares of Marvell Technology in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. Citigroup reaffirmed a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. Oppenheimer reissued an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Finally, B. Riley restated a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.75.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the sale, the chief financial officer now directly owns 102,986 shares in the company, valued at $6,981,420.94. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the transaction, the chief financial officer now owns 102,986 shares in the company, valued at $6,981,420.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the company’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 directly owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,000 shares of company stock valued at $8,983,290. 0.45% of the stock is owned by company insiders.

Marvell Technology Stock Performance

MRVL stock traded up $2.32 during mid-day trading on Monday, hitting $73.20. 10,122,166 shares of the company were exchanged, compared to its average volume of 14,597,890. Marvell Technology, Inc. has a 1-year low of $36.90 and a 1-year high of $85.76. The stock has a market capitalization of $63.39 billion, a PE ratio of -65.63, a price-to-earnings-growth ratio of 5.20 and a beta of 1.50. The business has a 50 day simple moving average of $69.79 and a 200-day simple moving average of $60.57. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

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

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Marvell Technology announced that its board 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 repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.