Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Greenleaf Trust

Greenleaf Trust lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,327 shares of the semiconductor company’s stock after purchasing an additional 280 shares during the period. Greenleaf Trust’s holdings in Marvell Technology were worth $382,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SJS Investment Consulting Inc. grew its position in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. grew its position in Marvell Technology by 23.4% in the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock worth $45,000 after buying an additional 155 shares during the last quarter. Versant Capital Management Inc grew its position in Marvell Technology by 34.7% in the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after buying an additional 161 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its position 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 worth $31,000 after buying an additional 165 shares during the last quarter. Finally, Insight Inv LLC grew its position in Marvell Technology by 0.5% in the fourth quarter. Insight Inv LLC now owns 37,620 shares of the semiconductor company’s stock worth $2,269,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a research report on Monday, March 4th. Barclays lifted their price target on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Raymond James lifted their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.13.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology 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 owns 119,117 shares in the company, valued at approximately $8,097,573.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,500 shares of company stock valued at $7,477,515. Insiders own 0.45% of the company’s stock.

Marvell Technology Trading Up 1.6 %

Shares of NASDAQ:MRVL opened at $63.86 on Wednesday. The firm has a fifty day moving average of $69.97 and a two-hundred day moving average of $62.40. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21.

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

Marvell Technology Dividend Announcement

The firm 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. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s payout ratio is presently -22.22%.

Marvell Technology declared that its Board of Directors has approved a stock repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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.