Livforsakringsbolaget Skandia Omsesidigt Sells 17,964 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,632 shares of the semiconductor company's stock after selling 17,964 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Marvell Technology were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. MetLife Investment Management LLC bought a new position in Marvell Technology in the 1st quarter valued at about $1,210,000. Yousif Capital Management LLC increased its stake in Marvell Technology by 6.6% in the first quarter. Yousif Capital Management LLC now owns 14,918 shares of the semiconductor company's stock valued at $1,070,000 after acquiring an additional 925 shares during the last quarter. Raymond James Trust N.A. raised its position in Marvell Technology by 2.8% during the first quarter. Raymond James Trust N.A. now owns 12,780 shares of the semiconductor company's stock valued at $917,000 after purchasing an additional 344 shares in the last quarter. Cetera Investment Advisers lifted its stake in Marvell Technology by 20.6% during the first quarter. Cetera Investment Advisers now owns 28,668 shares of the semiconductor company's stock worth $2,056,000 after purchasing an additional 4,888 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Marvell Technology by 35.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,099 shares of the semiconductor company's stock valued at $366,000 after purchasing an additional 1,337 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MRVL shares. Cantor Fitzgerald restated an "overweight" rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Roth Mkm reaffirmed a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Summit Insights raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a research note on Friday, March 8th. StockNews.com downgraded shares of Marvell Technology from a "hold" rating to a "sell" rating in a report on Friday, April 12th. Finally, Oppenheimer reissued an "outperform" rating and set a $80.00 price objective (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.13.

Insider Buying and Selling at Marvell Technology

In other 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 transaction, the chief financial officer now owns 103,986 shares of the company's stock, valued at approximately $7,091,845.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the transaction, the chief financial officer now directly 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 available through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business's stock in a transaction 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 sale, 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. Over the last ninety days, insiders sold 108,000 shares of company stock valued at $7,315,640. Corporate insiders own 0.45% of the company's stock.

Marvell Technology Trading Down 1.9 %

Shares of NASDAQ:MRVL traded down $1.24 during midday trading on Thursday, reaching $65.24. The company's stock had a trading volume of 11,867,396 shares, compared to its average volume of 14,211,664. Marvell Technology, Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The firm has a 50 day moving average price of $70.37 and a two-hundred day moving average price of $62.12. The firm has a market capitalization of $56.50 billion, a price-to-earnings ratio of -61.55, a PEG ratio of 4.99 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology's dividend payout ratio (DPR) is currently -22.22%.

Marvell Technology announced that its board has approved a share repurchase plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

About Marvell Technology

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.