Strs Ohio Buys 34,646 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Strs Ohio grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 661,941 shares of the semiconductor company's stock after buying an additional 34,646 shares during the quarter. Strs Ohio owned 0.08% of Marvell Technology worth $39,921,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Marvell Technology in the fourth quarter valued at $208,000. Crumly & Associates Inc. boosted its stake in shares of Marvell Technology by 88.1% in the fourth quarter. Crumly & Associates Inc. now owns 7,897 shares of the semiconductor company's stock valued at $476,000 after purchasing an additional 3,699 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Marvell Technology in the fourth quarter valued at $4,137,000. Simplicity Solutions LLC boosted its stake in shares of Marvell Technology by 8.0% in the fourth quarter. Simplicity Solutions LLC now owns 12,563 shares of the semiconductor company's stock valued at $758,000 after purchasing an additional 928 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of Marvell Technology by 2,244.7% in the fourth quarter. ORG Partners LLC now owns 891 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 853 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded down $2.28 during trading on Monday, hitting $67.88. 12,426,478 shares of the stock were exchanged, compared to its average volume of 14,383,336. The stock's fifty day moving average is $70.40 and its 200 day moving average is $61.99. The stock has a market cap of $58.78 billion, a PE ratio of -62.85, a P/E/G ratio of 5.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology, Inc. has a 12 month low of $36.90 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $1.43 billion during 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology announced that its board has approved a share repurchase plan on Thursday, March 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares buyback 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. Investors of record on Friday, April 12th will be given a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology's dividend payout ratio is presently -22.22%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $65.26, for a total value of $326,300.00. Following the completion of the transaction, the executive vice president now owns 124,117 shares in the company, valued at approximately $8,099,875.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the sale, the executive vice president now directly owns 124,117 shares of the company's stock, valued at $8,099,875.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares of the company's stock, valued at $7,291,999. The disclosure for this sale can be found here. Insiders sold 108,000 shares of company stock worth $7,188,790 in the last 90 days. Corporate insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup restated a "buy" rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Wednesday, March 27th. Oppenheimer reaffirmed an "outperform" rating and issued a $80.00 price target (up from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday. Summit Insights raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a report on Friday, March 8th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $86.00 price target on shares of Marvell Technology in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.96.

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.