Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,996 shares of the semiconductor company’s stock after selling 4,946 shares during the period. Metis Global Partners LLC’s holdings in Marvell Technology were worth $1,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. raised 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 period. Blue Trust Inc. boosted its stake in Marvell Technology by 23.4% during the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 155 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of 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 purchasing an additional 161 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew 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. Finally, New York Life Investment Management LLC raised its holdings in shares of Marvell Technology by 1.1% during the fourth quarter. New York Life Investment Management LLC now owns 15,862 shares of the semiconductor company’s stock valued at $957,000 after acquiring an additional 171 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, 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 completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,473,805 in the last quarter. Company insiders own 0.45% of the company’s stock.

Marvell Technology Trading Down 0.1 %

Shares of NASDAQ MRVL opened at $69.75 on Tuesday. The company’s 50 day simple moving average is $69.88 and its 200 day simple moving average is $63.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. Marvell Technology, Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $85.76. The firm has a market capitalization of $60.40 billion, a P/E ratio of -64.64, a P/E/G ratio of 5.01 and a beta of 1.48.

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, meeting 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

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

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, April 11th. Marvell Technology’s dividend payout ratio is currently -22.22%.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. Evercore ISI initiated coverage on Marvell Technology in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. B. Riley reaffirmed a “buy” rating and set a $95.00 target price (up previously from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Finally, UBS Group raised their target price on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

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.