Spire Wealth Management Sells 4,368 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Spire Wealth Management decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 25.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,676 shares of the semiconductor company’s stock after selling 4,368 shares during the period. Spire Wealth Management’s holdings in Marvell Technology were worth $764,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MRVL. SJS Investment Consulting Inc. raised its position in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Buck Wealth Strategies LLC raised its holdings in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 425 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares during the period. Whittier Trust Co. boosted its holdings in Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 226 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 161 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.50, for a total value of $71,500.00. Following the sale, the chief financial officer now directly owns 101,986 shares in the company, valued at approximately $7,291,999. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief financial officer now owns 101,986 shares in the company, valued at $7,291,999. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,500 shares of company stock worth $7,473,805. 0.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Barclays upped their price target on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. TD Cowen raised their price objective on shares of Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Roth Mkm restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Finally, UBS Group increased their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Trading Down 0.8 %

Marvell Technology stock opened at $68.11 on Thursday. Marvell Technology, Inc. has a 1 year low of $39.23 and a 1 year high of $85.76. The firm’s 50 day moving average price is $69.88 and its 200-day moving average price is $63.51. 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 stock has a market cap of $58.98 billion, a P/E ratio of -63.06, a PEG ratio of 5.01 and a beta of 1.48.

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 analysts’ consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.34 EPS. Marvell Technology’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its board has authorized a share repurchase program on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is -22.22%.

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.