Howe & Rusling Inc. Purchases Shares of 44,939 Marvell Technology, Inc. (NASDAQ:MRVL)

Howe & Rusling Inc. bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 44,939 shares of the semiconductor company's stock, valued at approximately $2,710,000.

Other hedge funds have also added to or reduced their stakes in the company. Simplicity Solutions LLC grew its holdings in shares of Marvell Technology by 2.6% during the third quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company's stock worth $630,000 after purchasing an additional 290 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Marvell Technology during the third quarter worth about $297,000. Linden Thomas Advisory Services LLC purchased a new position in shares of Marvell Technology during the third quarter worth about $492,000. Commonwealth Equity Services LLC lifted its position in Marvell Technology by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 190,841 shares of the semiconductor company's stock worth $10,330,000 after buying an additional 10,916 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Marvell Technology by 12.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 72,103 shares of the semiconductor company's stock worth $3,903,000 after buying an additional 8,263 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MRVL shares. Evercore ISI started coverage on Marvell Technology in a research report on Tuesday, April 16th. They issued an "outperform" rating and a $88.00 target price for the company. UBS Group boosted their target price on Marvell Technology from $70.00 to $83.00 and gave the stock a "buy" rating in a research report on Monday, February 26th. Barclays boosted their target price on Marvell Technology from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 16th. KeyCorp dropped their target price on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 8th. Finally, Morgan Stanley boosted their price objective on Marvell Technology from $63.00 to $84.00 and gave the company an "equal weight" rating in a research report on Thursday, March 7th. One equities research 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 an average rating of "Moderate Buy" and a consensus target price of $81.13.

Marvell Technology Trading Down 3.2 %

Shares of MRVL traded down $2.09 during mid-day trading on Wednesday, hitting $63.82. 11,164,058 shares of the company's stock traded hands, compared to its average volume of 13,878,219. The firm has a market capitalization of $55.27 billion, a P/E ratio of -59.09, a PEG ratio of 5.03 and a beta of 1.50. The business's 50-day moving average price is $69.90 and its 200-day moving average price is $62.93. Marvell Technology, Inc. has a 1 year low of $38.63 and a 1 year high of $85.76. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27.

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 for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.43 billion for 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 revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology's payout ratio is -22.22%.

Marvell Technology declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

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 value of $339,900.00. Following the sale, the executive vice president now directly owns 119,117 shares of the company's stock, valued at $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $339,900.00. Following the sale, the executive vice president now directly owns 119,117 shares of the company's stock, valued at $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total value of $2,030,100.00. Following the completion of 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. Insiders have sold a total of 111,500 shares of company stock valued at $7,542,005 over the last ninety days. Company insiders own 0.45% of the company's stock.

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.