Symmetry Investments LP Purchases 5,318 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Symmetry Investments LP boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 50.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,818 shares of the semiconductor company’s stock after buying an additional 5,318 shares during the period. Symmetry Investments LP’s holdings in Marvell Technology were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRVL. SJS Investment Consulting Inc. increased its holdings in shares of Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 527 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of 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 buying an additional 161 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Marvell Technology by 23.4% during the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MRVL. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. B. Riley increased their price objective on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. 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 report on Monday, February 26th. Evercore ISI increased their price objective on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus increased their price objective on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Read Our Latest Report on Marvell Technology

Marvell Technology Trading Down 0.2 %

NASDAQ MRVL opened at $69.35 on Tuesday. The stock’s 50-day moving average price is $69.91 and its two-hundred day moving average price is $66.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s payout ratio is currently -21.24%.

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

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $66.17, for a total transaction of $1,985,100.00. Following the completion of the transaction, the chief executive officer now directly owns 732,929 shares in the company, valued at $48,497,911.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $66.17, for a total transaction of $1,985,100.00. Following the completion of the transaction, the chief executive officer now directly owns 732,929 shares in the company, valued at $48,497,911.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $68.57, for a total value of $342,850.00. Following the sale, the executive vice president now owns 119,719 shares in the company, valued at approximately $8,209,131.83. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,522,055 over the last three months. 0.33% of the stock is currently owned by insiders.

Marvell Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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