Cambridge Trust Co. Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Cambridge Trust Co. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,000 shares of the semiconductor company’s stock, valued at approximately $302,000.

Several other institutional investors have also recently modified their holdings of MRVL. Quilter Plc bought a new position in Marvell Technology during the 1st quarter worth approximately $248,250,000. SRS Capital Advisors Inc. grew its position in Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 281 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Buck Wealth Strategies LLC grew its position in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 165 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Oppenheimer restated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Evercore ISI initiated coverage on Marvell Technology in a report on Tuesday. They issued an “outperform” rating and a $88.00 price objective for the company. KeyCorp cut their price objective on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Two research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the sale, the chief financial officer now owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,000 shares of company stock worth $7,315,640. Company insiders own 0.45% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $62.13 on Friday. The stock has a market cap of $53.80 billion, a price-to-earnings ratio of -57.53, a PEG ratio of 4.77 and a beta of 1.50. The firm’s 50-day moving average is $70.12 and its 200 day moving average is $62.20. Marvell Technology, Inc. has a 1 year low of $36.90 and a 1 year high of $85.76. 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 (NASDAQ:MRVL) last posted its 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 business had revenue of $1.43 billion for 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 business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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

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

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.