Bleakley Financial Group LLC Purchases 969 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Bleakley Financial Group LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,604 shares of the semiconductor company’s stock after acquiring an additional 969 shares during the quarter. Bleakley Financial Group LLC’s holdings in Marvell Technology were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Buck Wealth Strategies LLC boosted its holdings in shares of Marvell Technology by 1,328.1% in 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 period. SRS Capital Advisors Inc. boosted its holdings in shares of Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 281 shares during the period. SJS Investment Consulting Inc. boosted its holdings in shares of 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 purchasing an additional 155 shares during the period. Resurgent Financial Advisors LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $28,000. Finally, BluePath Capital Management LLC purchased a new position in shares of Marvell Technology in the 3rd quarter worth approximately $31,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 1.9 %

MRVL opened at $70.16 on Friday. The firm has a market cap of $60.76 billion, a price-to-earnings ratio of -64.96, a PEG ratio of 5.23 and a beta of 1.50. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 12 month low of $36.90 and a 12 month high of $85.76. The stock has a fifty day moving average price of $70.38 and a 200-day moving average price of $61.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 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 analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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 yield of 0.34%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio is currently -22.22%.

Marvell Technology declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Morgan Stanley boosted their price objective on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday. 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. Finally, TD Cowen boosted their price objective on Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.96.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total transaction of $326,300.00. Following the transaction, the executive vice president now directly owns 124,117 shares of the company’s stock, valued at approximately $8,099,875.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total value of $326,300.00. Following the transaction, the executive vice president now directly owns 124,117 shares of the company’s stock, valued at $8,099,875.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $65.59, for a total value of $1,967,700.00. Following the completion of the transaction, the chief executive officer now directly owns 792,929 shares in the company, valued at $52,008,213.11. The disclosure for this sale can be found here. Insiders have sold 108,000 shares of company stock valued at $7,188,790 in the last ninety days. Corporate insiders own 0.45% of the company’s stock.

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.