Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Paradiem LLC

Paradiem LLC lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 58.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,376 shares of the semiconductor company's stock after selling 15,692 shares during the period. Paradiem LLC's holdings in Marvell Technology were worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Buck Wealth Strategies LLC lifted its holdings in Marvell Technology by 1,328.1% in the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 425 shares during the period. SJS Investment Consulting Inc. lifted its holdings 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. BluePath Capital Management LLC acquired a new position in Marvell Technology in the third quarter valued at approximately $31,000. Oliver Lagore Vanvalin Investment Group lifted its holdings in Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 165 shares during the period. Finally, Whittier Trust Co. lifted its holdings in Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 226 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other 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 transaction of $68,200.00. Following the completion of the transaction, the chief financial officer now directly owns 103,986 shares in the company, valued at approximately $7,091,845.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the completion of the transaction, the executive vice president now directly owns 119,117 shares in the company, valued at approximately $8,097,573.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 owns 103,986 shares of the company's stock, valued at $7,091,845.20. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,477,515 in the last three months. 0.45% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

Shares of MRVL traded up $2.14 during trading hours on Friday, hitting $69.62. 11,543,835 shares of the stock were exchanged, compared to its average volume of 11,314,156. 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 stock's 50-day moving average price is $69.87 and its two-hundred day moving average price is $62.67. The company has a market cap of $60.29 billion, a price-to-earnings ratio of -64.46, a price-to-earnings-growth ratio of 5.09 and a beta of 1.50. Marvell Technology, Inc. has a 12-month low of $37.71 and a 12-month high of $85.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its 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 company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. Research analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its board has initiated a stock buyback program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology's payout ratio is currently -22.22%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MRVL shares. TD Cowen boosted their price target on Marvell Technology from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, March 8th. Raymond James boosted their price target on Marvell Technology from $62.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, January 19th. Citigroup reaffirmed a "buy" rating and set a $91.00 target price on shares of Marvell Technology in a research note on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Barclays upped their target price on Marvell Technology from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.13.

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.