Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Davis R M Inc.

Davis R M Inc. lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 34.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 486,190 shares of the semiconductor company's stock after acquiring an additional 125,314 shares during the quarter. Davis R M Inc. owned 0.06% of Marvell Technology worth $29,322,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Buck Wealth Strategies LLC grew its stake in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock worth $25,000 after buying an additional 425 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of 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 buying an additional 165 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Marvell Technology by 532.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company's stock worth $34,000 after buying an additional 527 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Marvell Technology by 34.7% during the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company's stock valued at $38,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MRVL shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $85.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Summit Insights raised Marvell Technology from a "hold" rating to a "buy" rating in a report on Friday, March 8th. UBS Group lifted their price target on Marvell Technology from $70.00 to $83.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Evercore ISI assumed coverage on Marvell Technology in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $88.00 price objective for the company. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.28.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.44, for a total transaction of $332,200.00. Following the transaction, the executive vice president now owns 114,117 shares in the company, valued at approximately $7,581,933.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $66.17, for a total value of $1,985,100.00. Following the completion of the transaction, the chief executive officer now owns 732,929 shares in the company, valued at approximately $48,497,911.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00. Following the completion of the transaction, the executive vice president now owns 114,117 shares of the company's stock, valued at approximately $7,581,933.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,500 shares of company stock worth $7,522,055. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $1.17 on Tuesday, hitting $73.30. The company had a trading volume of 7,613,924 shares, compared to its average volume of 13,250,728. Marvell Technology, Inc. has a 52-week low of $45.00 and a 52-week high of $85.76. The company has a market cap of $63.44 billion, a PE ratio of -67.87, a PEG ratio of 5.18 and a beta of 1.48. The business has a 50 day moving average of $68.74 and a 200 day moving average of $65.04. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 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 negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.73 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is presently -22.22%.

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

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.