Signaturefd LLC Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Signaturefd LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,332 shares of the semiconductor company’s stock after purchasing an additional 563 shares during the period. Signaturefd LLC’s holdings in Marvell Technology were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRVL. Matrix Capital Management Company LP boosted its position in Marvell Technology by 54.3% during the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock worth $712,720,000 after purchasing an additional 4,634,127 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Marvell Technology by 43.7% during 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. Wellington Management Group LLP raised its holdings in shares of Marvell Technology by 87.0% during the third quarter. Wellington Management Group LLP now owns 4,548,206 shares of the semiconductor company’s stock valued at $246,194,000 after acquiring an additional 2,115,366 shares during the last quarter. Alkeon Capital Management LLC acquired a new position in shares of Marvell Technology during the third quarter valued at approximately $102,847,000. Finally, Rokos Capital Management LLP raised its holdings in shares of Marvell Technology by 176.5% during the third quarter. Rokos Capital Management LLP now owns 1,457,044 shares of the semiconductor company’s stock valued at $79,977,000 after acquiring an additional 930,158 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology 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 sale, the chief financial officer now owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,500 shares of company stock valued at $7,477,515. 0.45% of the stock is owned by corporate insiders.

Marvell Technology Stock Up 1.6 %

Shares of NASDAQ MRVL opened at $63.86 on Wednesday. The company has a market capitalization of $55.30 billion, a price-to-earnings ratio of -59.13, a price-to-earnings-growth ratio of 4.60 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 business has a 50-day moving average of $69.97 and a two-hundred day moving average of $62.40. Marvell Technology, Inc. has a 1 year low of $36.90 and a 1 year high of $85.76.

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, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for 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 firm’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 forecast that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

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 reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio is presently -22.22%.

Analyst Ratings Changes

A number of equities analysts have commented on MRVL shares. Stifel Nicolaus reissued a “buy” rating and set a $86.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Oppenheimer reissued an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Raymond James increased their price target on Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Barclays increased their price target on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

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.