4,792 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,792 shares of the semiconductor company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quilter Plc bought a new position in Marvell Technology during the first quarter worth $248,250,000. SRS Capital Advisors Inc. increased its stake in shares of Marvell Technology by 216.2% in the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 281 shares during the period. West Tower Group LLC bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $25,000. SJS Investment Consulting Inc. grew its holdings 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 in the last quarter. Finally, Buck Wealth Strategies LLC boosted 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 acquiring an additional 425 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRVL has been the topic of several research analyst reports. UBS Group raised their target price on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Cantor Fitzgerald started coverage on shares of Marvell Technology in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Finally, KeyCorp dropped their target price on shares of Marvell Technology from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.75.

Marvell Technology Stock Performance

Marvell Technology stock traded down $1.43 during mid-day trading on Thursday, hitting $70.88. 12,380,502 shares of the company’s stock traded hands, compared to its average volume of 14,669,741. The firm has a 50 day simple moving average of $69.74 and a two-hundred day simple moving average of $60.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The stock has a market cap of $61.38 billion, a price-to-earnings ratio of -66.13, a P/E/G ratio of 5.01 and a beta of 1.51. Marvell Technology, Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $85.76.

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

Marvell Technology declared that its Board of Directors has approved a stock repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 yield of 0.34%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio is currently -22.22%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the completion of the sale, the chief financial officer now directly owns 102,986 shares of the company’s stock, valued at $6,981,420.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the sale, the chief financial officer now owns 102,986 shares of the company’s stock, valued at approximately $6,981,420.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ford Tamer sold 30,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $60.20, for a total transaction of $1,806,000.00. Following the completion of the transaction, the director now directly owns 40,403 shares in the company, valued at approximately $2,432,260.60. The disclosure for this sale can be found here. Insiders have sold 138,000 shares of company stock valued at $8,983,290 over 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.