Advisory Services Network LLC Sells 9,381 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Advisory Services Network LLC reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 36.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,600 shares of the semiconductor company’s stock after selling 9,381 shares during the quarter. Advisory Services Network LLC’s holdings in Marvell Technology were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. increased 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 in the last quarter. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 155 shares during the period. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 161 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of 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 purchasing an additional 165 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its stake in shares of Marvell Technology by 1.1% during the 4th quarter. New York Life Investment Management LLC now owns 15,862 shares of the semiconductor company’s stock valued at $957,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $66.17, for a total transaction of $1,985,100.00. Following the completion of the sale, the chief executive officer now directly owns 732,929 shares in the company, valued at approximately $48,497,911.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $66.17, for a total transaction of $1,985,100.00. Following the completion of the transaction, the chief executive officer now owns 732,929 shares of the company’s stock, valued at $48,497,911.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The disclosure for this sale can be found here. Insiders have sold a total of 110,500 shares of company stock worth $7,522,055 over the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $76.85 on Friday. The firm has a market capitalization of $66.51 billion, a P/E ratio of -71.16, a PEG ratio of 3.80 and a beta of 1.48. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week 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. The company has a 50 day moving average price of $69.89 and a 200 day moving average price of $65.95.

Marvell Technology (NASDAQ:MRVLGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company earned $0.17 earnings per share. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. Sell-side analysts expect that Marvell Technology, Inc. will post 0.73 EPS for the current year.

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

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were given a $0.06 dividend. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRVL shares. Morgan Stanley increased their price objective on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. KeyCorp reduced their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 price target on shares of Marvell Technology in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $84.05.

Check Out Our Latest Research Report on MRVL

Marvell Technology Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVLFree Report).

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.