Simplicity Solutions LLC Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Simplicity Solutions LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,563 shares of the semiconductor company’s stock after purchasing an additional 928 shares during the period. Simplicity Solutions LLC’s holdings in Marvell Technology were worth $758,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised 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 valued at $381,257,000 after buying an additional 2,142,391 shares during the period. Kingswood Wealth Advisors LLC raised 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 valued at $1,296,000 after buying an additional 18,357 shares during the period. Fred Alger Management LLC raised 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 valued at $218,499,000 after buying an additional 95,003 shares during the period. NewEdge Wealth LLC raised 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 valued at $390,000 after buying an additional 973 shares during the period. Finally, Montag A & Associates Inc. raised 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 valued at $3,510,000 after buying an additional 8,836 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the sale, the chief financial officer now directly owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 approximately $51,627,405.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock worth $4,894,790 in the last ninety days. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MRVL shares. Oppenheimer reiterated an “outperform” rating and set a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Barclays upped their target price on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $81.13.

Marvell Technology Price Performance

MRVL opened at $68.28 on Wednesday. The stock has a 50-day moving average price of $70.43 and a 200-day moving average price of $62.09. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $59.13 billion, a P/E ratio of -63.22, a PEG ratio of 4.96 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $1.43 billion during 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 company’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 earned $0.34 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.35%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio is presently -22.22%.

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.