Vestmark Advisory Solutions Inc. Buys 520 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Vestmark Advisory Solutions Inc. lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,854 shares of the semiconductor company’s stock after purchasing an additional 520 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Marvell Technology were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRVL. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Marvell Technology by 12.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 72,103 shares of the semiconductor company’s stock worth $3,903,000 after buying an additional 8,263 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Marvell Technology by 59.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 87,962 shares of the semiconductor company’s stock worth $4,761,000 after buying an additional 32,908 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Marvell Technology by 12.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 202,043 shares of the semiconductor company’s stock valued at $10,937,000 after buying an additional 21,845 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in Marvell Technology in the 3rd quarter worth $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Marvell Technology by 1.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,448 shares of the semiconductor company’s stock valued at $9,389,000 after acquiring an additional 2,019 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $69.82 on Tuesday. Marvell Technology, Inc. has a twelve month low of $39.23 and a twelve month high of $85.76. The company has a market capitalization of $60.46 billion, a P/E ratio of -64.65, a price-to-earnings-growth ratio of 5.01 and a beta of 1.48. The firm has a 50 day moving average of $69.88 and a 200 day moving average of $63.34. The company has a quick ratio of 1.21, a current ratio of 1.69 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, hitting the consensus estimate of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. 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 business earned $0.34 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders 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 dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -22.22%.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. KeyCorp reduced their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. B. Riley reissued a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. UBS Group raised their target price on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Oppenheimer reissued an “outperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.13.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the sale, the executive vice president now owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the transaction, the executive vice president now owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $67.79, for a total value of $67,790.00. Following the sale, the chief financial officer now owns 102,986 shares of the company’s stock, valued at $6,981,420.94. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,473,805 over the last three months. Insiders own 0.45% of the company’s stock.

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.