Steph & Co. Has $407,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Steph & Co. reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.0% during the 4th quarter, HoldingsChannel reports. The firm owned 6,750 shares of the semiconductor company’s stock after selling 430 shares during the quarter. Steph & Co.’s holdings in Marvell Technology were worth $407,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. bought a new position in Marvell Technology during the fourth quarter worth $263,000. Quantum Private Wealth LLC raised its position in shares of Marvell Technology by 1.0% during the fourth quarter. Quantum Private Wealth LLC now owns 34,227 shares of the semiconductor company’s stock valued at $2,064,000 after buying an additional 335 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Marvell Technology by 74.9% in the fourth quarter. Avior Wealth Management LLC now owns 3,269 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Marvell Technology by 146.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 428,258 shares of the semiconductor company’s stock worth $25,828,000 after buying an additional 254,810 shares in the last quarter. Finally, Octavia Wealth Advisors LLC increased its stake in Marvell Technology by 3.9% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,443 shares of the semiconductor company’s stock valued at $328,000 after acquiring an additional 206 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Barclays upped their price objective on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Evercore ISI began coverage on shares of Marvell Technology in a research report on Tuesday. They set an “outperform” rating and a $88.00 target price for the company. Oppenheimer restated an “outperform” rating and issued 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 reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Stock Down 2.6 %

Shares of MRVL stock traded down $1.80 during trading on Wednesday, reaching $66.48. The company’s stock had a trading volume of 9,739,225 shares, compared to its average volume of 14,243,129. Marvell Technology, Inc. has a one year low of $36.90 and a one year high of $85.76. The business has a fifty day moving average price of $70.43 and a 200-day moving average price of $62.09. The company has a market cap of $57.57 billion, a price-to-earnings ratio of -63.22, a price-to-earnings-growth ratio of 4.96 and a beta of 1.50. 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 (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.36%. Marvell Technology’s dividend payout ratio is -22.22%.

Marvell Technology announced 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total value of $2,064,600.00. Following the completion of the transaction, the chief executive officer now owns 716,545 shares of the company’s stock, valued at approximately $49,312,626.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the completion of the sale, the chief executive officer now owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at $7,091,845.20. The disclosure for this sale can be found here. Insiders have sold 108,000 shares of company stock valued at $7,315,640 in the last 90 days. 0.45% of the stock is currently owned by 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.