GAMMA Investing LLC Takes $202,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

GAMMA Investing LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,345 shares of the semiconductor company’s stock, valued at approximately $202,000.

Other large investors have also modified their holdings of the company. SJS Investment Consulting Inc. raised its stake in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Buck Wealth Strategies LLC raised its stake in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 425 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 165 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Marvell Technology during the third quarter worth approximately $31,000. Finally, Whittier Trust Co. raised its stake in shares of Marvell Technology by 59.9% during the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 226 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. KeyCorp cut 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. Raymond James increased their price objective on Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Barclays increased their price objective on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Morgan Stanley increased their price objective on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Stock Up 4.1 %

Shares of NASDAQ:MRVL opened at $67.48 on Friday. The stock’s 50-day moving average price is $69.80 and its two-hundred day moving average price is $62.48. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 12-month low of $37.42 and a 12-month high of $85.76. The firm has a market cap of $58.44 billion, a price-to-earnings ratio of -62.48, a PEG ratio of 4.74 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $0.34 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid 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 share 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was 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 can be accessed through this link. In other news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 110,500 shares of company stock valued at $7,477,515. 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.