Avior Wealth Management LLC Has $197,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Avior Wealth Management LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 74.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,269 shares of the semiconductor company’s stock after purchasing an additional 1,400 shares during the quarter. Avior Wealth Management LLC’s holdings in Marvell Technology were worth $197,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in Marvell Technology by 118,898.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock valued at $2,313,242,000 after acquiring an additional 62,400,056 shares during the last quarter. Norges Bank acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $188,566,000. Matrix Capital Management Company LP lifted its stake in Marvell Technology by 54.3% in the third 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 last quarter. Renaissance Technologies LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $107,779,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in 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 acquiring an additional 2,142,391 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MRVL shares. B. Riley reiterated a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a research report on Monday, March 4th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. KeyCorp dropped their target price on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Trading Down 4.8 %

Shares of Marvell Technology stock opened at $62.13 on Friday. The firm has a market capitalization of $53.80 billion, a PE ratio of -57.53, a price-to-earnings-growth ratio of 4.77 and a beta of 1.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The company’s fifty day moving average price is $70.12 and its two-hundred day moving average price is $62.20. Marvell Technology, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting 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 negative net margin of 16.95% and a positive return on equity of 4.96%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, analysts expect that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Marvell Technology declared that its Board of Directors has initiated a stock buyback program on Thursday, March 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction 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 approximately $51,627,405.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,000 shares of company stock worth $7,315,640. 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.