Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,193 shares of the semiconductor company’s stock after purchasing an additional 216 shares during the period. Waterfront Wealth Inc.’s holdings in Marvell Technology were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quilter Plc purchased a new stake in shares of Marvell Technology during the 1st quarter worth approximately $248,250,000. SRS Capital Advisors Inc. lifted its stake in Marvell Technology by 216.2% in the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 281 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in 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. Buck Wealth Strategies LLC boosted its stake in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares during the period. Finally, BluePath Capital Management LLC purchased a new position in shares of Marvell Technology during the third quarter worth about $31,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 2.3 %

MRVL traded down $1.50 during trading on Thursday, hitting $64.98. 1,880,757 shares of the company’s stock were exchanged, compared to its average volume of 14,068,688. The stock has a 50 day moving average price of $70.37 and a 200 day moving average price of $62.12. Marvell Technology, Inc. has a 1 year low of $36.90 and a 1 year 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. The firm has a market cap of $56.27 billion, a P/E ratio of -61.55, a price-to-earnings-growth ratio of 4.99 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. As a group, analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business 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. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.37%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Marvell Technology declared that its Board of Directors has approved a share buyback plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MRVL. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. Barclays raised their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. UBS Group upped 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. Oppenheimer reiterated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Finally, Raymond James lifted their price objective on Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.13.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the transaction, 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 document filed with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 disclosure for this sale can be found here. Insiders have sold 108,000 shares of company stock worth $7,315,640 in the last ninety days. 0.45% of the stock is owned by insiders.

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.