Oliver Lagore Vanvalin Investment Group Has $31,000 Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Oliver Lagore Vanvalin Investment Group boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 46.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 522 shares of the semiconductor company’s stock after buying an additional 165 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Marvell Technology were worth $31,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Waterfront Wealth Inc. boosted its holdings in Marvell Technology by 1.4% in the 4th quarter. Waterfront Wealth Inc. now owns 15,193 shares of the semiconductor company’s stock valued at $916,000 after purchasing an additional 216 shares during the period. Rakuten Securities Inc. bought a new stake in Marvell Technology in the 4th quarter valued at about $263,000. Quantum Private Wealth LLC boosted its holdings in Marvell Technology by 1.0% in the 4th quarter. Quantum Private Wealth LLC now owns 34,227 shares of the semiconductor company’s stock valued at $2,064,000 after purchasing an additional 335 shares during the period. Avior Wealth Management LLC boosted its holdings in Marvell Technology by 74.9% in the 4th quarter. Avior Wealth Management LLC now owns 3,269 shares of the semiconductor company’s stock valued at $197,000 after purchasing an additional 1,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Marvell Technology by 146.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 428,258 shares of the semiconductor company’s stock valued at $25,828,000 after purchasing an additional 254,810 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Down 1.9 %

Shares of NASDAQ MRVL opened at $65.24 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76. The firm has a 50 day moving average price of $70.25 and a two-hundred day moving average price of $62.15. The stock has a market cap of $56.50 billion, a P/E ratio of -60.41, a price-to-earnings-growth ratio of 4.86 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period in the prior year, the company posted $0.34 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -22.22%.

Marvell Technology announced that its board has approved a share repurchase program 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 programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a report on Wednesday, March 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a report on Monday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. 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 stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction 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 directly owns 762,929 shares in the company, valued at $51,627,405.43. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction 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 directly owns 103,986 shares in the company, valued at $7,091,845.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the 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 sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders sold a total of 108,000 shares of company stock worth $7,315,640 over the last three months. 0.45% of the stock is owned by company 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.