Lindbrook Capital LLC Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Lindbrook Capital LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 79.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 902 shares of the semiconductor company’s stock after purchasing an additional 398 shares during the quarter. Lindbrook Capital LLC’s holdings in Marvell Technology were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its holdings in Marvell Technology by 0.3% in the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock worth $7,005,447,000 after purchasing an additional 421,622 shares during the period. Vanguard Group Inc. grew its holdings in Marvell Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock worth $3,813,546,000 after purchasing an additional 477,731 shares during the period. Matrix Capital Management Company LP grew its holdings 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 worth $712,720,000 after purchasing an additional 4,634,127 shares during the period. Invesco Ltd. grew its holdings in Marvell Technology by 9.2% in the third quarter. Invesco Ltd. now owns 8,259,375 shares of the semiconductor company’s stock worth $447,080,000 after purchasing an additional 698,359 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 worth $381,257,000 after purchasing an additional 2,142,391 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the transaction, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at $7,091,845.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’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 transaction, the chief executive officer now directly owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock valued at $7,477,515 over the last three months. Corporate insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $67.48 on Friday. The firm has a fifty day moving average price of $69.80 and a 200-day moving average price of $62.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. Marvell Technology, Inc. has a 1 year low of $37.42 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced 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 negative net margin of 16.95% and a positive return on equity of 4.96%. 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 company posted $0.34 earnings per share. Analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology declared that its board has approved a stock buyback plan on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed 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 is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Wall Street Analyst Weigh In

MRVL has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Roth Mkm reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Morgan Stanley upped their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

About Marvell Technology

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.