Nisa Investment Advisors LLC Acquires 900 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Nisa Investment Advisors LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 58,150 shares of the semiconductor company’s stock after acquiring an additional 900 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Marvell Technology were worth $3,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MRVL. MetLife Investment Management LLC bought a new position in Marvell Technology in the first quarter worth approximately $1,210,000. Yousif Capital Management LLC lifted its holdings in Marvell Technology by 6.6% during the first quarter. Yousif Capital Management LLC now owns 14,918 shares of the semiconductor company’s stock worth $1,070,000 after buying an additional 925 shares during the period. Raymond James Trust N.A. lifted its holdings in Marvell Technology by 2.8% during the first quarter. Raymond James Trust N.A. now owns 12,780 shares of the semiconductor company’s stock worth $917,000 after buying an additional 344 shares during the period. Cetera Investment Advisers lifted its holdings in Marvell Technology by 20.6% during the first quarter. Cetera Investment Advisers now owns 28,668 shares of the semiconductor company’s stock worth $2,056,000 after buying an additional 4,888 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Marvell Technology by 35.5% during the first quarter. Sequoia Financial Advisors LLC now owns 5,099 shares of the semiconductor company’s stock worth $366,000 after buying an additional 1,337 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.50, for a total value of $71,500.00. Following the transaction, the chief financial officer now directly owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the transaction, the chief financial officer now owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the sale, the executive vice president now directly owns 124,117 shares of the company’s stock, valued at approximately $8,099,875.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,000 shares of company stock valued at $7,188,790. Corporate insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MRVL. StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday. KeyCorp lowered their target price on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Citigroup restated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. Morgan Stanley upped their target price on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, UBS Group increased their price objective on Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.96.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $70.16 on Friday. The firm’s 50-day moving average price is $70.38 and its 200 day moving average price is $61.76. Marvell Technology, Inc. has a twelve month low of $36.90 and a twelve month high of $85.76. 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 issued its quarterly 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 positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its board has approved a stock buyback plan on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Marvell Technology Announces Dividend

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 given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -22.22%.

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.