5,305 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by PFG Investments LLC

PFG Investments LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,305 shares of the semiconductor company’s stock, valued at approximately $376,000.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Marvell Technology during the fourth quarter valued at about $511,215,000. Matrix Capital Management Company LP grew its stake in shares of Marvell Technology by 54.3% during the 3rd quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock valued at $712,720,000 after acquiring an additional 4,634,127 shares during the period. Brown Advisory Inc. raised its stake in Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock worth $890,475,000 after acquiring an additional 3,036,495 shares during the period. Aspex Management HK Ltd boosted its position in shares of Marvell Technology by 103.8% in the fourth quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock worth $344,525,000 after purchasing an additional 2,908,912 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Marvell Technology by 43.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock valued at $381,257,000 after purchasing an additional 2,142,391 shares during the period. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MRVL shares. KeyCorp dropped their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. UBS Group boosted their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Finally, Citigroup reiterated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $81.13.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $2.84 on Tuesday, reaching $65.91. The company’s stock had a trading volume of 12,777,081 shares, compared to its average volume of 13,910,771. Marvell Technology, Inc. has a 52-week low of $38.63 and a 52-week high of $85.76. The stock has a market capitalization of $57.08 billion, a P/E ratio of -61.03, a PEG ratio of 5.09 and a beta of 1.50. The stock’s 50-day moving average is $69.93 and its two-hundred day moving average is $62.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21.

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

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Marvell Technology announced that its Board of Directors has initiated a share buyback 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 reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, 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 value of $2,030,100.00. Following the completion of the transaction, the chief executive officer now 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 is accessible through the SEC website. In related 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 sale, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the 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 completion of the sale, the chief executive officer now owns 762,929 shares in the company, 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 $7,477,515 over the last quarter. Company 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.