Geneva Capital Management LLC Sells 2,352 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Geneva Capital Management LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,273 shares of the semiconductor company’s stock after selling 2,352 shares during the quarter. Geneva Capital Management LLC’s holdings in Marvell Technology were worth $2,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MRVL. Matrix Capital Management Company LP grew its position in shares of Marvell Technology by 54.3% during the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock worth $712,720,000 after purchasing an additional 4,634,127 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Marvell Technology by 43.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after purchasing an additional 2,142,391 shares in the last quarter. Wellington Management Group LLP grew its holdings in Marvell Technology by 87.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,548,206 shares of the semiconductor company’s stock valued at $246,194,000 after buying an additional 2,115,366 shares in the last quarter. Alkeon Capital Management LLC bought a new stake in Marvell Technology in the 3rd quarter worth approximately $102,847,000. Finally, Rokos Capital Management LLP increased its stake in Marvell Technology by 176.5% in the 3rd quarter. Rokos Capital Management LLP now owns 1,457,044 shares of the semiconductor company’s stock worth $79,977,000 after acquiring an additional 930,158 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the topic of a number of research reports. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Tuesday. Raymond James lifted their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.13.

Insider Activity

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the sale, the chief executive officer now directly owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the sale, the executive vice president now directly owns 119,117 shares in the company, valued at $8,097,573.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock valued at $7,473,805 in the last ninety days. Insiders own 0.45% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL traded up $0.57 during trading hours on Friday, hitting $68.25. 2,252,194 shares of the company were exchanged, compared to its average volume of 13,445,604. The stock has a market capitalization of $59.10 billion, a price-to-earnings ratio of -62.67, a PEG ratio of 5.01 and a beta of 1.48. Marvell Technology, Inc. has a 52-week low of $39.23 and a 52-week high of $85.76. 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 company’s 50 day moving average price is $69.80 and its 200-day moving average price is $63.54.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -22.22%.

Marvell Technology announced that its Board of Directors has initiated a stock buyback program on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About Marvell Technology

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.