Livforsakringsbolaget Skandia Omsesidigt Has $1.24 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 46.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,632 shares of the semiconductor company’s stock after selling 17,964 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Marvell Technology were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quilter Plc acquired a new position in shares of Marvell Technology in the first quarter worth $248,250,000. SRS Capital Advisors Inc. increased its position in Marvell Technology by 216.2% during the second 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 last quarter. SJS Investment Consulting Inc. increased its position in 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. Buck Wealth Strategies LLC increased its position in Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in Marvell Technology during the third quarter worth $31,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the sale, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,000 shares of company stock valued at $7,315,640. Corporate insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. B. Riley reissued a “buy” rating and set a $95.00 target price (up from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, April 12th. UBS Group upped their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Raymond James upped their price target 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. One research 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.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $64.48 on Thursday. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month 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 firm has a market capitalization of $55.84 billion, a PE ratio of -61.55, a price-to-earnings-growth ratio of 4.99 and a beta of 1.50. The firm has a 50-day moving average price of $70.37 and a 200 day moving average price of $62.12.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly 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. 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 during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

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.