Quantum Private Wealth LLC Has $2.06 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Quantum Private Wealth LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,227 shares of the semiconductor company’s stock after purchasing an additional 335 shares during the quarter. Marvell Technology comprises about 0.9% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 21st largest position. Quantum Private Wealth LLC’s holdings in Marvell Technology were worth $2,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in Marvell Technology by 43.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after purchasing an additional 2,142,391 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Marvell Technology by 328.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 23,949 shares of the semiconductor company’s stock valued at $1,296,000 after acquiring an additional 18,357 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Marvell Technology by 2.4% in the third quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock valued at $218,499,000 after acquiring an additional 95,003 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in Marvell Technology by 15.6% in the third quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 973 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its holdings in Marvell Technology by 15.8% in the third quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company’s stock valued at $3,510,000 after acquiring an additional 8,836 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Down 1.6 %

Shares of NASDAQ MRVL traded down $1.06 during mid-day trading on Wednesday, reaching $67.22. 1,922,919 shares of the company’s stock were exchanged, compared to its average volume of 14,135,325. The firm has a market capitalization of $58.21 billion, a price-to-earnings ratio of -63.22, a PEG ratio of 4.96 and a beta of 1.50. 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 business has a fifty day simple moving average of $70.43 and a 200 day simple moving average of $62.09. Marvell Technology, Inc. has a twelve month low of $36.90 and a twelve month high of $85.76.

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 analysts’ consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.34 earnings per share. Marvell Technology’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

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

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio is presently -22.22%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred 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 sale, the chief financial officer now owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’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 value of $68,200.00. Following the completion of the transaction, 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 can be accessed through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 114,117 shares of the company’s stock, valued at $7,581,933.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,000 shares of company stock valued at $4,894,790. 0.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MRVL shares. KeyCorp decreased 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. Evercore ISI started coverage on Marvell Technology in a report on Tuesday. They issued an “outperform” rating and a $88.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Finally, Roth Mkm reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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.