Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 74.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,269 shares of the semiconductor company’s stock after buying an additional 1,400 shares during the quarter. Avior Wealth Management LLC’s holdings in Marvell Technology were worth $197,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its position in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. grew its position in Marvell Technology by 23.4% during 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 during the last quarter. Versant Capital Management Inc grew its position in Marvell Technology by 34.7% during the 4th 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 last quarter. Insight Inv LLC grew its position 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 purchasing an additional 180 shares during the last quarter. Finally, Bouvel Investment Partners LLC grew its position in Marvell Technology by 0.3% during the 4th quarter. Bouvel Investment Partners LLC now owns 57,394 shares of the semiconductor company’s stock worth $3,461,000 after purchasing an additional 183 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL opened at $62.13 on Friday. 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 has a market cap of $53.80 billion, a P/E ratio of -57.53, a PEG ratio of 4.77 and a beta of 1.50. The company has a 50-day moving average of $70.12 and a two-hundred day moving average of $62.20. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, research analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology announced that its board has initiated a stock repurchase program on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s payout ratio is currently -22.22%.

Insider Activity

In other news, EVP Chris Koopmans sold 5,000 shares of the business’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 completion of the transaction, the executive vice president now owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Chris Koopmans sold 5,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 119,117 shares in the company, valued at $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders sold a total of 108,000 shares of company stock valued at $7,315,640 over the last 90 days. Insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. KeyCorp lowered their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Morgan Stanley lifted 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. Citigroup reaffirmed a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. Finally, Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Two research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

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.