3,444 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,444 shares of the semiconductor company’s stock, valued at approximately $208,000.

Several other institutional investors also recently bought and sold shares of MRVL. Moneta Group Investment Advisors LLC raised its holdings in Marvell Technology by 118,898.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock valued at $2,313,242,000 after acquiring an additional 62,400,056 shares during the last quarter. Norges Bank purchased a new stake in shares of Marvell Technology during the 4th quarter valued at $188,566,000. Matrix Capital Management Company LP grew its stake in shares of Marvell Technology by 54.3% during the 3rd quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock valued at $712,720,000 after buying an additional 4,634,127 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Marvell Technology during the 1st quarter valued at $107,779,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Marvell Technology by 43.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock valued at $381,257,000 after buying an additional 2,142,391 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at $7,091,845.20. The transaction was disclosed in a document filed with the SEC, which is available through 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 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 90 days, insiders have sold 73,000 shares of company stock worth $4,894,790. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MRVL shares. Roth Mkm reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. B. Riley reissued a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Barclays boosted their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Finally, UBS Group upped their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.13.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $68.28 on Wednesday. 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 $70.43 and a two-hundred day moving average of $62.09. The stock has a market cap of $59.13 billion, a P/E ratio of -63.22, a PEG ratio of 4.96 and a beta of 1.50. Marvell Technology, Inc. has a 1-year low of $36.90 and a 1-year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates 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 for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. On average, research analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a $0.06 dividend. 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 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.