Syon Capital LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Syon Capital LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel reports. The fund acquired 7,953 shares of the semiconductor company’s stock, valued at approximately $480,000.

Several other hedge funds also recently added to or reduced their stakes in MRVL. Buck Wealth Strategies LLC raised its position in Marvell Technology by 1,328.1% in the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 425 shares during the period. SJS Investment Consulting Inc. increased its position 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 purchasing an additional 155 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in Marvell Technology in the 3rd quarter valued at about $31,000. Oliver Lagore Vanvalin Investment Group raised its holdings in Marvell Technology by 46.2% in 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 during the period. Finally, Whittier Trust Co. lifted its position in Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 226 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent analyst reports. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research note on Wednesday, March 27th. Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Finally, KeyCorp cut their price objective on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’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 owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the transaction, the chief financial officer now owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the sale, the executive vice president now directly owns 21,266 shares of the company’s stock, valued at $1,376,973.50. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,477,515 over the last three months. Insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $69.62 on Friday. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of -64.46, a PEG ratio of 4.94 and a beta of 1.50. The firm’s fifty day simple moving average is $69.80 and its 200-day simple moving average is $62.51. Marvell Technology, Inc. has a twelve month low of $37.71 and a twelve month high of $85.76. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates 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. Equities analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -22.22%.

Marvell Technology declared that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

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.