Montag & Caldwell LLC Sells 722 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Montag & Caldwell LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 11,112 shares of the semiconductor company’s stock after selling 722 shares during the period. Montag & Caldwell LLC’s holdings in Marvell Technology were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Buck Wealth Strategies LLC increased its stake in Marvell Technology by 1,328.1% in the third 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. SJS Investment Consulting Inc. grew its stake in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of Marvell Technology during the third quarter valued at about $31,000. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MRVL. Oppenheimer reiterated an “outperform” rating and set a $80.00 target price (up from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Morgan Stanley lifted their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Evercore ISI assumed coverage on shares of Marvell Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 price objective for the company. Finally, B. Riley reissued a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $0.42 during trading hours on Monday, reaching $69.20. 3,024,426 shares of the company’s stock were exchanged, compared to its average volume of 13,848,586. Marvell Technology, Inc. has a 1-year low of $38.63 and a 1-year high of $85.76. The firm has a market capitalization of $59.93 billion, a price-to-earnings ratio of -64.46, a P/E/G ratio of 5.09 and a beta of 1.50. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $69.87 and a 200 day moving average of $62.73.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 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 quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Research analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be issued 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 dividend yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

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 buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the sale, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the transaction, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at $1,376,973.50. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,477,515 over the last ninety days. 0.45% of the stock is currently owned by corporate 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.