Tandem Capital Management Corp ADV Lowers Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Tandem Capital Management Corp ADV lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,665 shares of the semiconductor company’s stock after selling 1,080 shares during the quarter. Marvell Technology comprises approximately 1.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 29th largest holding. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $1,910,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MRVL. Buck Wealth Strategies LLC raised its position in shares of Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 425 shares in the last quarter. 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 in the last quarter. BluePath Capital Management LLC bought a new position in shares of Marvell Technology during the 3rd quarter valued at about $31,000. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in Marvell Technology by 59.9% in the 3rd quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after buying an additional 226 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MRVL shares. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a report on Monday, March 4th. KeyCorp lowered their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Morgan Stanley lifted their price objective 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, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Stock Performance

NASDAQ:MRVL traded up $2.63 during trading hours on Thursday, reaching $67.48. The company had a trading volume of 12,328,335 shares, compared to its average volume of 14,014,941. The firm has a market cap of $58.44 billion, a price-to-earnings ratio of -62.01, a PEG ratio of 4.67 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. The firm’s 50 day moving average price is $69.80 and its 200-day moving average price is $62.48. Marvell Technology, Inc. has a 52 week low of $37.42 and a 52 week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates 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 positive return on equity of 4.96% and a negative net margin of 16.95%. Marvell Technology’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 yield of 0.36%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

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

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 762,929 shares in the company, valued at approximately $51,627,405.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the sale, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on 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 sale, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,500 shares of company stock worth $7,477,515. 0.45% of the stock is owned by company insiders.

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.