Tlwm Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Tlwm acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,462 shares of the semiconductor company’s stock, valued at approximately $600,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVL. SJS Investment Consulting Inc. boosted its holdings 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 purchasing an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 165 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 527 shares in the last quarter. Finally, Optimum Investment Advisors bought a new position in shares of Marvell Technology during the 1st quarter valued at $35,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the transaction, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the completion of the sale, the chief financial officer now owns 101,986 shares of the company’s stock, valued at $7,291,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at $1,376,973.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,500 shares of company stock worth $5,504,065. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 0.7 %

MRVL stock traded up $0.46 on Thursday, reaching $68.73. 6,037,325 shares of the company traded hands, compared to its average volume of 13,002,620. The firm has a fifty day simple moving average of $70.10 and a 200-day simple moving average of $68.21. The company has a market cap of $59.49 billion, a P/E ratio of -60.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.46. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. Marvell Technology’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. Research analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has approved a share buyback program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be given a $0.06 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Analyst Upgrades and Downgrades

MRVL has been the subject of several analyst reports. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. KeyCorp decreased their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. B. Riley increased their price objective on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Summit Insights raised shares of 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 issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $85.00.

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.