Rakuten Securities Inc. Acquires New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Rakuten Securities Inc. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,367 shares of the semiconductor company’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SJS Investment Consulting Inc. grew its stake 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 worth $26,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. lifted its holdings in Marvell Technology by 23.4% in the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 155 shares during the period. Versant Capital Management Inc lifted its holdings in Marvell Technology by 34.7% in the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 161 shares during the period. Insight Inv LLC lifted its holdings in Marvell Technology by 0.5% in the fourth quarter. Insight Inv LLC now owns 37,620 shares of the semiconductor company’s stock valued at $2,269,000 after buying an additional 180 shares during the period. Finally, Bouvel Investment Partners LLC lifted its holdings in Marvell Technology by 0.3% in the fourth quarter. Bouvel Investment Partners LLC now owns 57,394 shares of the semiconductor company’s stock valued at $3,461,000 after buying an additional 183 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 in the company, valued at approximately $7,291,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock valued at $4,894,790 in the last three months. Company insiders own 0.45% of the company’s stock.

Marvell Technology Stock Down 1.8 %

MRVL stock traded down $1.20 during trading on Wednesday, reaching $67.08. The stock had a trading volume of 3,259,498 shares, compared to its average volume of 14,150,223. Marvell Technology, Inc. has a one year low of $36.90 and a one year high of $85.76. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $70.43 and its two-hundred day moving average is $62.09. The company has a market capitalization of $58.09 billion, a price-to-earnings ratio of -63.22, a P/E/G ratio of 4.96 and a beta of 1.50.

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

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 outstanding shares. This buyback authorization allows the semiconductor company to purchase 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.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders 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 dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio is currently -22.22%.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Raymond James boosted their target price on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, January 19th. TD Cowen upped their price objective on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, March 8th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, April 12th. Finally, Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average 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.