Atria Wealth Solutions Inc. Purchases 1,640 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Atria Wealth Solutions Inc. grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,767 shares of the semiconductor company’s stock after purchasing an additional 1,640 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Marvell Technology were worth $1,976,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Simplicity Solutions LLC grew its holdings in Marvell Technology by 2.6% during the 3rd quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company’s stock worth $630,000 after acquiring an additional 290 shares during the period. Ballentine Partners LLC increased its holdings in Marvell Technology by 6.8% in the third quarter. Ballentine Partners LLC now owns 4,983 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 319 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Marvell Technology in the third quarter valued at approximately $297,000. Linden Thomas Advisory Services LLC bought a new position in shares of Marvell Technology during the 3rd quarter worth approximately $492,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Marvell Technology by 6.1% during 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 period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total transaction of $161,875.00. Following the completion of the transaction, the executive vice president now owns 21,266 shares in the company, valued at approximately $1,376,973.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 21,266 shares of the company’s stock, valued at approximately $1,376,973.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the sale, the chief executive officer now directly owns 716,545 shares in the company, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,477,515 over the last ninety days. 0.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a research note on Monday, March 4th. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Morgan Stanley raised their price objective 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. B. Riley reaffirmed a “buy” rating and set a $95.00 target price (up from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Finally, Evercore ISI started coverage on Marvell Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $88.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Trading Down 1.2 %

Shares of NASDAQ:MRVL opened at $68.75 on Tuesday. Marvell Technology, Inc. has a 1 year low of $38.63 and a 1 year high of $85.76. The business has a fifty day moving average price of $69.92 and a two-hundred day moving average price of $62.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed 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 0.35%. Marvell Technology’s payout ratio is -22.22%.

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.