Raymond James & Associates Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Raymond James & Associates increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 951,090 shares of the semiconductor company’s stock after acquiring an additional 30,458 shares during the quarter. Raymond James & Associates owned approximately 0.11% of Marvell Technology worth $67,413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Buck Wealth Strategies LLC raised its position in shares of Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings 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 buying an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of Marvell Technology during the 3rd quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

MRVL stock traded up $1.84 during mid-day trading on Friday, reaching $68.51. 9,011,548 shares of the company’s stock were exchanged, compared to its average volume of 11,829,374. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. Marvell Technology, Inc. has a 12-month low of $38.63 and a 12-month high of $85.76. The stock’s 50 day moving average is $69.85 and its 200 day moving average is $63.12. The company has a market cap of $59.33 billion, a price-to-earnings ratio of -63.43, a price-to-earnings-growth ratio of 4.88 and a beta of 1.48.

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

Marvell Technology announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Marvell Technology Announces Dividend

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

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the transaction, the executive vice president now directly owns 119,117 shares in the company, valued at approximately $8,097,573.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were 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 of the company’s stock, valued at approximately $6,981,420.94. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock valued at $7,473,805 over the last ninety days. Insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent analyst reports. B. Riley reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Monday, March 4th. Finally, Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

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.