Mission Wealth Management LP Purchases 590 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Mission Wealth Management LP lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,567 shares of the semiconductor company’s stock after purchasing an additional 590 shares during the quarter. Mission Wealth Management LP’s holdings in Marvell Technology were worth $939,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. SJS Investment Consulting Inc. grew its stake in shares of 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 buying an additional 155 shares in the last quarter. Blue Trust Inc. raised its stake in Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 155 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Marvell Technology by 34.7% during the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 161 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Marvell Technology by 46.2% in 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 period. Finally, Insight Inv LLC increased its stake in Marvell Technology by 0.5% during the 4th quarter. Insight Inv LLC now owns 37,620 shares of the semiconductor company’s stock worth $2,269,000 after acquiring an additional 180 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Down 3.2 %

MRVL stock opened at $63.82 on Thursday. The stock has a market cap of $55.27 billion, a P/E ratio of -59.09, a P/E/G ratio of 4.82 and a beta of 1.48. Marvell Technology, Inc. has a 1-year low of $38.63 and a 1-year high of $85.76. 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 stock’s fifty day simple moving average is $69.90 and its two-hundred day simple moving average is $62.93.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $1.43 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Marvell Technology declared that its board has approved a stock buyback plan on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. Barclays boosted their price target on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. TD Cowen raised their target price on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Raymond James upped their target price on Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.13.

Insider Activity at Marvell Technology

In other Marvell Technology 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 transaction of $2,030,100.00. Following the completion of the transaction, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief financial officer now owns 102,986 shares of the company’s stock, valued at $6,981,420.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,500 shares of company stock worth $7,473,805. 0.45% of the stock is owned by company insiders.

About Marvell Technology

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.