First Pacific Financial Sells 232 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

First Pacific Financial trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,191 shares of the semiconductor company’s stock after selling 232 shares during the quarter. First Pacific Financial’s holdings in Marvell Technology were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. West Tower Group LLC bought a new position in shares of Marvell Technology in the second quarter worth approximately $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 valued at $25,000 after purchasing an additional 425 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after buying an additional 281 shares during the period. SJS Investment Consulting Inc. grew its position 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 worth $26,000 after buying an additional 155 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $28,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 5.9 %

MRVL stock opened at $72.31 on Thursday. Marvell Technology, Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $85.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The firm has a fifty day moving average price of $69.74 and a 200 day moving average price of $60.32.

Marvell Technology (NASDAQ:MRVL) last announced its 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. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s payout ratio is currently -22.22%.

Insider Transactions at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $65.59, for a total value of $1,967,700.00. Following the completion of the sale, the chief executive officer now directly owns 792,929 shares in the company, valued at approximately $52,008,213.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 99,730 shares of the company’s stock, valued at approximately $5,983,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $65.59, for a total value of $1,967,700.00. Following the completion of the transaction, the chief executive officer now directly owns 792,929 shares of the company’s stock, valued at approximately $52,008,213.11. The disclosure for this sale can be found here. Insiders have sold a total of 138,000 shares of company stock valued at $8,983,290 in the last 90 days. Insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MRVL shares. UBS Group boosted their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Citigroup reissued a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research report on Wednesday. Barclays lifted their price target on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, KeyCorp decreased their price objective on Marvell Technology from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

About Marvell Technology

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.