Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,174 shares of the semiconductor company’s stock after selling 10,467 shares during the period. LaFleur & Godfrey LLC’s holdings in Marvell Technology were worth $7,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. West Tower Group LLC purchased a new position in shares of Marvell Technology in the 2nd quarter valued at about $25,000. Buck Wealth Strategies LLC increased its holdings in shares of Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 281 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays increased their price objective on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Marvell Technology in a research note on Monday, March 4th. Raymond James raised their price target on Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. TD Cowen raised their price target on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Finally, Morgan Stanley raised their price target on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.75.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00. Following the sale, the executive vice president now directly owns 114,117 shares in the company, valued at $7,581,933.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the transaction, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.44, for a total value of $332,200.00. Following the completion of the transaction, the executive vice president now directly owns 114,117 shares of the company’s stock, valued at $7,581,933.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,000 shares of company stock worth $8,983,290. 0.45% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded down $1.29 during trading on Thursday, reaching $71.02. The company’s stock had a trading volume of 6,797,940 shares, compared to its average volume of 14,572,049. 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, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76. The company has a market capitalization of $61.50 billion, a P/E ratio of -66.13, a price-to-earnings-growth ratio of 5.01 and a beta of 1.51. The business has a 50 day moving average price of $69.74 and a 200-day moving average price of $60.32.

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

Marvell Technology Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s payout ratio is -22.22%.

Marvell Technology declared that its board has approved a stock buyback plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.