Quantum Private Wealth LLC Has $2.06 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Quantum Private Wealth LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,227 shares of the semiconductor company’s stock after buying an additional 335 shares during the quarter. Marvell Technology comprises about 0.9% of Quantum Private Wealth LLC’s portfolio, making the stock its 21st biggest position. Quantum Private Wealth LLC’s holdings in Marvell Technology were worth $2,064,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its position in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. Blue Trust Inc. grew its holdings in Marvell Technology by 23.4% during the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 155 shares during the period. Versant Capital Management Inc grew its holdings in Marvell Technology by 34.7% during the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 161 shares during the period. Insight Inv LLC boosted its holdings in shares of Marvell Technology by 0.5% in the fourth quarter. Insight Inv LLC now owns 37,620 shares of the semiconductor company’s stock worth $2,269,000 after acquiring an additional 180 shares during the period. Finally, Bouvel Investment Partners LLC boosted its holdings in shares of Marvell Technology by 0.3% in the fourth quarter. Bouvel Investment Partners LLC now owns 57,394 shares of the semiconductor company’s stock worth $3,461,000 after acquiring an additional 183 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 1.6 %

Shares of MRVL traded down $1.06 during trading hours on Wednesday, hitting $67.22. The company had a trading volume of 1,922,919 shares, compared to its average volume of 14,135,325. The firm has a market cap of $58.21 billion, a P/E ratio of -63.22, a P/E/G ratio of 4.96 and a beta of 1.50. The stock’s 50 day moving average price is $70.43 and its 200 day moving average price is $62.09. 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 52-week low of $36.90 and a 52-week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its 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. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. Marvell Technology’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. On average, research analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced 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 0.36%. Marvell Technology’s payout ratio is presently -22.22%.

Marvell Technology announced that its board has authorized a stock buyback plan on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

MRVL has been the subject of several research analyst reports. Barclays lifted 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. UBS Group lifted their price objective on Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Morgan Stanley raised their price target 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. Finally, Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.13.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares of the company’s stock, valued at $7,291,999. The transaction was disclosed in a legal filing 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 Marvell Technology stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the sale, the executive vice president now directly owns 119,117 shares in the company, valued at $8,097,573.66. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock valued at $4,894,790 over the last ninety days. 0.45% of the stock is owned by insiders.

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.