Montag A & Associates Inc. Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Montag A & Associates Inc. grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,776 shares of the semiconductor company’s stock after buying an additional 2,939 shares during the period. Montag A & Associates Inc.’s holdings in Marvell Technology were worth $4,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC raised its stake in Marvell Technology by 0.3% in the 3rd quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock worth $7,005,447,000 after acquiring an additional 421,622 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Marvell Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock valued at $3,813,546,000 after purchasing an additional 477,731 shares during the period. Matrix Capital Management Company LP raised its stake in shares of Marvell Technology by 54.3% in the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock worth $712,720,000 after purchasing an additional 4,634,127 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Marvell Technology by 9.2% during the third quarter. Invesco Ltd. now owns 8,259,375 shares of the semiconductor company’s stock worth $447,080,000 after purchasing an additional 698,359 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Marvell Technology by 43.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after buying an additional 2,142,391 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.6 %

NASDAQ:MRVL traded down $0.43 during trading hours on Thursday, reaching $67.68. 13,646,566 shares of the stock were exchanged, compared to its average volume of 13,571,967. Marvell Technology, Inc. has a twelve month low of $39.23 and a twelve month high of $85.76. The business has a 50-day moving average of $69.80 and a two-hundred day moving average of $63.54. The company has a market capitalization of $58.61 billion, a price-to-earnings ratio of -62.67, a PEG ratio of 5.01 and a beta of 1.48. 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) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. On average, equities analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology declared that its board has approved a stock repurchase 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 buy up to 4.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. Marvell Technology’s payout ratio is -22.22%.

Insider Activity at Marvell Technology

In related news, 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 completion of the transaction, the chief executive officer now owns 762,929 shares in the company, valued at $51,627,405.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the sale, the chief financial officer now directly owns 102,986 shares of the company’s stock, valued at $6,981,420.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the company’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 completion of the transaction, 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. Insiders have sold a total of 110,500 shares of company stock valued at $7,473,805 over the last 90 days. 0.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on MRVL. Evercore ISI began coverage on shares of Marvell Technology in a research note on Tuesday, April 16th. They set an “outperform” rating and a $88.00 price objective for the company. Barclays boosted their price objective on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. TD Cowen raised their target price on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. UBS Group upped their price objective on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, B. Riley reaffirmed a “buy” rating and set a $95.00 target price (up from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has a consensus 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.