HCR Wealth Advisors Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

HCR Wealth Advisors increased its position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,867 shares of the semiconductor company’s stock after buying an additional 1,867 shares during the quarter. HCR Wealth Advisors’ holdings in Marvell Technology were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVL. Team Hewins LLC purchased a new stake in Marvell Technology in the 4th quarter worth approximately $230,000. TCW Group Inc. boosted its holdings in Marvell Technology by 6.6% in the fourth quarter. TCW Group Inc. now owns 264,069 shares of the semiconductor company’s stock valued at $15,939,000 after acquiring an additional 16,437 shares in the last quarter. AXS Investments LLC increased its position in Marvell Technology by 4.8% during the 4th quarter. AXS Investments LLC now owns 22,415 shares of the semiconductor company’s stock valued at $1,352,000 after purchasing an additional 1,026 shares during the period. US Bancorp DE raised its holdings in Marvell Technology by 8.6% in the 4th quarter. US Bancorp DE now owns 185,347 shares of the semiconductor company’s stock worth $11,178,000 after purchasing an additional 14,651 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Marvell Technology by 5.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 75,903 shares of the semiconductor company’s stock worth $4,578,000 after purchasing an additional 3,800 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.44, for a total value of $332,200.00. Following the completion of the sale, the executive vice president now directly owns 114,117 shares in the company, valued at approximately $7,581,933.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00. Following the completion of the transaction, the executive vice president now directly owns 114,117 shares in the company, valued at approximately $7,581,933.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the sale, the chief financial officer now owns 102,986 shares in the company, valued at approximately $6,981,420.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,500 shares of company stock valued at $7,522,055. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

Marvell Technology stock traded up $1.66 during midday trading on Friday, reaching $76.68. 9,353,678 shares of the company traded hands, compared to its average volume of 10,032,874. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. 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 business has a 50 day moving average of $69.23 and a two-hundred day moving average of $65.35. The firm has a market capitalization of $66.36 billion, a price-to-earnings ratio of -71.00, a price-to-earnings-growth ratio of 3.77 and a beta of 1.48.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.73 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, April 11th. Marvell Technology’s payout ratio is currently -22.22%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MRVL. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a research note on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. UBS Group increased their price objective on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Morgan Stanley boosted their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.28.

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Marvell Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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