Charles Schwab Investment Management Inc. Has $187.67 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Charles Schwab Investment Management Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,111,703 shares of the semiconductor company’s stock after purchasing an additional 117,160 shares during the period. Charles Schwab Investment Management Inc. owned 0.36% of Marvell Technology worth $187,667,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Buck Wealth Strategies LLC grew its holdings in 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 buying an additional 425 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in 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 in the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 165 shares in the last quarter. Whittier Trust Co. raised its stake in Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 226 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in Marvell Technology by 532.3% during the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 527 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.6 %

NASDAQ:MRVL opened at $67.68 on Friday. Marvell Technology, Inc. has a one year low of $39.23 and a one year high of $85.76. The company has a market cap of $58.61 billion, a PE ratio of -62.67, a PEG ratio of 5.01 and a beta of 1.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The firm has a 50-day moving average of $69.80 and a 200-day moving average of $63.54.

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, meeting 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 company earned $0.34 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

Marvell Technology declared that its board has authorized a share buyback plan on Thursday, March 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. TD Cowen lifted their target price on Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. Raymond James raised their price target on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Citigroup reiterated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on 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 sale, the chief executive officer now directly owns 762,929 shares in the company, valued at $51,627,405.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the 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 transaction, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,500 shares of company stock worth $7,473,805. Insiders own 0.45% of the company’s stock.

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.