Rakuten Securities Inc. Acquires New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Rakuten Securities Inc. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,367 shares of the semiconductor company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Buck Wealth Strategies LLC increased its holdings in Marvell Technology by 1,328.1% during 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 in the last quarter. SRS Capital Advisors Inc. grew its holdings 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 purchasing an additional 281 shares during the period. SJS Investment Consulting Inc. grew its holdings in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Resurgent Financial Advisors LLC acquired a new position in Marvell Technology during the fourth quarter valued at approximately $28,000. Finally, BluePath Capital Management LLC acquired a new position in Marvell Technology during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the completion of the transaction, the chief financial officer now owns 101,986 shares in the company, valued at $7,291,999. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,000 shares of company stock valued at $4,894,790. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MRVL. UBS Group boosted 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. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Monday, March 4th. KeyCorp lowered their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and set a $86.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Trading Down 1.8 %

MRVL stock traded down $1.20 during mid-day trading on Wednesday, reaching $67.08. 3,259,498 shares of the stock traded hands, compared to its average volume of 14,150,223. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76. The company has a market cap of $58.09 billion, a P/E ratio of -63.22, a P/E/G ratio of 4.96 and a beta of 1.50. The stock’s fifty day moving average is $70.43 and its 200-day moving average is $62.09.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology announced that its board has authorized a share repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a dividend of $0.06 per share. 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%.

Marvell Technology 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.