River Global Investors LLP Sells 240 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

River Global Investors LLP trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,841 shares of the semiconductor company’s stock after selling 240 shares during the quarter. River Global Investors LLP’s holdings in Marvell Technology were worth $2,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC grew its position in Marvell Technology by 6.1% during the third quarter. Commonwealth Equity Services LLC now owns 190,841 shares of the semiconductor company’s stock worth $10,330,000 after buying an additional 10,916 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Marvell Technology by 12.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 72,103 shares of the semiconductor company’s stock worth $3,903,000 after purchasing an additional 8,263 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Marvell Technology by 59.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 87,962 shares of the semiconductor company’s stock valued at $4,761,000 after purchasing an additional 32,908 shares during the period. Xponance Inc. raised its stake in shares of Marvell Technology by 10.1% in the third quarter. Xponance Inc. now owns 33,043 shares of the semiconductor company’s stock valued at $1,789,000 after purchasing an additional 3,028 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Marvell Technology by 5.8% in the third quarter. Raymond James & Associates now owns 713,760 shares of the semiconductor company’s stock worth $38,636,000 after purchasing an additional 39,299 shares during the period. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a report on Sunday, April 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Trading Up 2.8 %

MRVL traded up $1.84 during mid-day trading on Friday, reaching $68.51. The stock had a trading volume of 9,011,548 shares, compared to its average volume of 11,829,374. The firm’s fifty day simple moving average is $69.85 and its two-hundred day simple moving average is $63.06. The stock has a market capitalization of $59.33 billion, a P/E ratio of -63.43, a P/E/G ratio of 4.88 and a beta of 1.48. Marvell Technology, Inc. has a 52 week low of $38.63 and a 52 week high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69.

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

Marvell Technology Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio is presently -22.22%.

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

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief financial officer now directly owns 102,986 shares in the company, valued at $6,981,420.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief financial officer now owns 102,986 shares in the company, valued at $6,981,420.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the completion of the sale, the executive vice president now owns 119,117 shares in the company, valued at $8,097,573.66. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock valued at $7,473,805 over the last quarter. Corporate insiders own 0.45% of the company’s stock.

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.