Bay Colony Advisory Group Inc d b a Bay Colony Advisors Purchases Shares of 3,444 Marvell Technology, Inc. (NASDAQ:MRVL)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,444 shares of the semiconductor company’s stock, valued at approximately $208,000.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Marvell Technology by 43.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after buying an additional 2,142,391 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Marvell Technology by 328.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 23,949 shares of the semiconductor company’s stock worth $1,296,000 after buying an additional 18,357 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Marvell Technology by 2.4% in the third quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock worth $218,499,000 after buying an additional 95,003 shares during the last quarter. NewEdge Wealth LLC boosted its stake in shares of Marvell Technology by 15.6% in the third quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company’s stock worth $390,000 after buying an additional 973 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its stake in shares of Marvell Technology by 15.8% in the third quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company’s stock worth $3,510,000 after buying an additional 8,836 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. UBS Group upped their target price on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. KeyCorp reduced their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Finally, StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Trading Up 0.6 %

Shares of Marvell Technology stock opened at $68.28 on Wednesday. The firm has a market capitalization of $59.13 billion, a price-to-earnings ratio of -63.22, a PEG ratio of 4.96 and a beta of 1.50. Marvell Technology, Inc. has a fifty-two week low of $36.90 and a fifty-two 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. The stock has a 50 day moving average of $70.43 and a 200 day moving average of $62.09.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.43 billion during 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 firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. As a group, research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be given 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 dividend yield of 0.35%. Marvell Technology’s dividend payout ratio is currently -22.22%.

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

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction on 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. Insiders sold a total of 73,000 shares of company stock worth $4,894,790 over the last ninety days. Company 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.