SlateStone Wealth LLC Has $224,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

SlateStone Wealth LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 78.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,716 shares of the semiconductor company's stock after selling 13,718 shares during the period. SlateStone Wealth LLC's holdings in Marvell Technology were worth $224,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. SJS Investment Consulting Inc. grew its position in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 155 shares during the period. Buck Wealth Strategies LLC boosted its holdings in shares of Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 425 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 165 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Marvell Technology during the 3rd quarter valued at $31,000. Finally, Whittier Trust Co. raised its position in Marvell Technology by 59.9% in the 3rd quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 226 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company's 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 completion of the transaction, the chief executive officer now directly owns 762,929 shares of the company's stock, valued at $51,627,405.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction on Friday, April 19th. The shares were sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the transaction, the executive vice president now owns 21,266 shares of the company's stock, valued at $1,376,973.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business's 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 directly owns 762,929 shares in the company, valued at $51,627,405.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,500 shares of company stock valued at $7,477,515. 0.45% of the stock is owned by corporate insiders.

Marvell Technology Trading Up 1.6 %

MRVL stock traded up $0.99 during midday trading on Wednesday, hitting $64.85. 9,103,972 shares of the company's stock were exchanged, compared to its average volume of 14,036,440. Marvell Technology, Inc. has a one year low of $36.90 and a one year 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 company has a market cap of $56.16 billion, a PE ratio of -59.77, a price-to-earnings-growth ratio of 4.60 and a beta of 1.50. The stock's fifty day moving average price is $69.88 and its 200-day moving average price is $62.46.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the business posted $0.34 EPS. Marvell Technology's revenue for the quarter was up .6% on a year-over-year basis. Research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its board has initiated a stock repurchase program on Thursday, March 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. Marvell Technology's payout ratio is -22.22%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MRVL shares. Morgan Stanley raised their target price on Marvell Technology from $63.00 to $84.00 and gave the company an "equal weight" rating in a research note on Thursday, March 7th. Barclays upped their target price on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 16th. UBS Group raised their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a "buy" rating in a report on Monday, February 26th. Oppenheimer reaffirmed 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. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.