PFG Investments LLC Purchases Shares of 5,305 Marvell Technology, Inc. (NASDAQ:MRVL)

PFG Investments LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,305 shares of the semiconductor company’s stock, valued at approximately $376,000.

Other large investors have also bought and sold shares of the company. Simplicity Solutions LLC boosted its holdings in shares of Marvell Technology by 2.6% in the third quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company’s stock worth $630,000 after buying an additional 290 shares during the period. Ballentine Partners LLC raised its stake in Marvell Technology by 6.8% during the 3rd quarter. Ballentine Partners LLC now owns 4,983 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 319 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Marvell Technology in the 3rd quarter valued at $297,000. Linden Thomas Advisory Services LLC acquired a new stake in Marvell Technology in the 3rd quarter worth $492,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Marvell Technology by 6.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 190,841 shares of the semiconductor company’s stock worth $10,330,000 after purchasing an additional 10,916 shares during the period. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MRVL. Roth Mkm reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Barclays increased their price objective on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 target price on shares of Marvell Technology in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty 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 target price of $81.13.

Marvell Technology Trading Down 4.1 %

Marvell Technology stock traded down $2.84 during mid-day trading on Tuesday, hitting $65.91. 12,777,081 shares of the stock were exchanged, compared to its average volume of 13,910,771. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 12 month low of $38.63 and a 12 month high of $85.76. The firm’s fifty day simple moving average is $69.93 and its two-hundred day simple moving average is $62.92. The stock has a market capitalization of $57.08 billion, a price-to-earnings ratio of -61.03, a PEG ratio of 5.09 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 quarter last year, the business earned $0.34 EPS. The company’s revenue was up .6% compared to the same quarter last year. Analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

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 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 0.36%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Marvell Technology announced that its Board of Directors has approved a share buyback plan on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the completion of the sale, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock worth $7,477,515 in the last quarter. 0.45% of the stock is owned by corporate insiders.

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.