Signaturefd LLC Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Signaturefd LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,332 shares of the semiconductor company’s stock after acquiring an additional 563 shares during the quarter. Signaturefd LLC’s holdings in Marvell Technology were worth $623,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. lifted its position in Marvell Technology by 56.8% in the 4th 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. lifted its position in Marvell Technology by 23.4% in the 4th 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 lifted its position in Marvell Technology by 34.7% in the 4th 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 lifted its position in Marvell Technology by 46.2% in the 4th 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 lifted 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 valued at $2,269,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MRVL shares. Morgan Stanley boosted their target price 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. UBS Group upped 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. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. KeyCorp cut their target price on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Finally, Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the transaction, the executive vice president now owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,500 shares of company stock worth $7,477,515. 0.45% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $63.86 on Wednesday. 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, Inc. has a 52 week low of $36.90 and a 52 week high of $85.76. The business has a 50-day simple moving average of $69.97 and a two-hundred day simple moving average of $62.40. The stock has a market cap of $55.30 billion, a price-to-earnings ratio of -59.13, a PEG ratio of 4.60 and a beta of 1.50.

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

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be given a dividend of $0.06 per share. 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 dividend payout ratio is currently -22.22%.

Marvell Technology announced that its board has initiated a stock repurchase plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

About Marvell Technology

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.