Marvell Technology, Inc. (NASDAQ:MRVL) is Hartline Investment Corp’s 7th Largest Position

Hartline Investment Corp lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 370,055 shares of the semiconductor company’s stock after selling 5,563 shares during the quarter. Marvell Technology makes up about 3.6% of Hartline Investment Corp’s holdings, making the stock its 7th largest holding. Hartline Investment Corp’s holdings in Marvell Technology were worth $22,318,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MRVL. Buck Wealth Strategies LLC raised its stake in shares of Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares in the last quarter. SJS Investment Consulting Inc. raised its stake 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 acquiring an additional 155 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Marvell Technology during the 3rd quarter worth approximately $31,000. Oliver Lagore Vanvalin Investment Group increased its stake in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 59.9% during the 3rd quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL traded up $0.99 during midday trading on Wednesday, hitting $64.85. 9,102,577 shares of the company traded hands, compared to its average volume of 14,036,440. 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 company has a market capitalization of $56.16 billion, a price-to-earnings ratio of -59.77, a PEG ratio of 4.60 and a beta of 1.50. Marvell Technology, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76. The business has a 50 day simple moving average of $69.88 and a two-hundred day simple moving average of $62.46.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. On average, equities analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology declared that its board has approved a stock repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Marvell Technology Announces Dividend

The business 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio is presently -22.22%.

Insider Activity

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 value of $68,200.00. Following the sale, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the business’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 transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on 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 approximately $7,091,845.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,500 shares of company stock valued at $7,477,515. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MRVL. Raymond James upped their price target on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. KeyCorp cut their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Morgan Stanley increased their price objective on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

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.