5,415 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by WD Rutherford LLC

WD Rutherford LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,415 shares of the semiconductor company’s stock, valued at approximately $327,000.

Other hedge funds also recently bought and sold shares of the company. Buck Wealth Strategies LLC increased its holdings 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 acquiring an additional 425 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. BluePath Capital Management LLC bought a new stake in Marvell Technology during the 3rd quarter valued at approximately $31,000. Oliver Lagore Vanvalin Investment Group boosted its stake in 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 purchasing an additional 165 shares during the period. Finally, Whittier Trust Co. boosted its stake in Marvell Technology by 59.9% during the 3rd quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 226 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Up 3.2 %

Shares of Marvell Technology stock opened at $69.62 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 12 month low of $37.71 and a 12 month high of $85.76. The business has a fifty day simple moving average of $69.87 and a 200 day simple moving average of $62.62. The stock has a market cap of $60.29 billion, a PE ratio of -64.46, a price-to-earnings-growth ratio of 4.94 and a beta of 1.50.

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, hitting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Research analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Marvell Technology announced that its board has initiated a share repurchase plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. B. Riley restated a “buy” rating and set a $95.00 target price (up previously from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Morgan Stanley raised their target price 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. Roth Mkm restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Finally, TD Cowen raised their target price on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Two investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s 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 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. Over the last ninety days, insiders have sold 110,500 shares of company stock worth $7,477,515. Corporate insiders own 0.45% of the company’s stock.

Marvell Technology Company 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.