Team Hewins LLC Invests $230,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Team Hewins LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,814 shares of the semiconductor company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. boosted its stake in shares of Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after buying an additional 161 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after buying an additional 527 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Marvell Technology by 157.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after buying an additional 472 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Finally, StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $81.28.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the transaction, the chief financial officer now directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the transaction, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the sale, the chief financial officer now owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,522,055 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $1.66 during mid-day trading on Friday, hitting $76.68. 9,353,678 shares of the company’s stock traded hands, compared to its average volume of 10,032,874. The company’s 50-day moving average is $69.23 and its two-hundred day moving average is $65.35. 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 company has a market capitalization of $66.36 billion, a P/E ratio of -71.00, a PEG ratio of 3.85 and a beta of 1.48. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.73 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were paid a $0.06 dividend. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. Marvell Technology’s dividend payout ratio is currently -22.22%.

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

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.