Western Wealth Management LLC Reduces Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Western Wealth Management LLC lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,167 shares of the semiconductor company’s stock after selling 352 shares during the period. Western Wealth Management LLC’s holdings in Marvell Technology were worth $734,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Buck Wealth Strategies LLC grew its position 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 purchasing an additional 425 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 281 shares during the period. SJS Investment Consulting Inc. lifted its stake in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in Marvell Technology during the 4th quarter valued at approximately $28,000. Finally, BluePath Capital Management LLC acquired a new stake in Marvell Technology during the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $71.25, for a total value of $356,250.00. Following the completion of the sale, the executive vice president now owns 109,117 shares of the company’s stock, valued at $7,774,586.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at $7,091,845.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $71.25, for a total value of $356,250.00. Following the transaction, the executive vice president now owns 109,117 shares of the company’s stock, valued at $7,774,586.25. The disclosure for this sale can be found here. Insiders sold 108,000 shares of company stock valued at $7,315,640 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $62.13 on Friday. Marvell Technology, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76. The firm has a market capitalization of $53.80 billion, a price-to-earnings ratio of -57.53, a PEG ratio of 4.54 and a beta of 1.50. The company has a fifty day simple moving average of $70.12 and a 200-day simple moving average of $62.27. 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 released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its board has approved a share buyback plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

Analyst Upgrades and Downgrades

Several analysts have commented on MRVL shares. Oppenheimer restated an “outperform” rating and set a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Citigroup restated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. Raymond James lifted their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. KeyCorp decreased their target price on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. Finally, Morgan Stanley boosted their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.13.

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.