Marvell Technology, Inc. (NASDAQ:MRVL) Stake Increased by Register Financial Advisors LLC

Register Financial Advisors LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,804 shares of the semiconductor company’s stock after purchasing an additional 601 shares during the period. Register Financial Advisors LLC’s holdings in Marvell Technology were worth $553,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MRVL. Mariner LLC raised its holdings in shares of Marvell Technology by 11.6% during the third quarter. Mariner LLC now owns 72,073 shares of the semiconductor company’s stock worth $3,902,000 after acquiring an additional 7,497 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Marvell Technology by 10.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,104 shares of the semiconductor company’s stock worth $114,000 after acquiring an additional 198 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Marvell Technology by 15.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,591 shares of the semiconductor company’s stock worth $519,000 after acquiring an additional 1,280 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Marvell Technology by 35.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 17,846 shares of the semiconductor company’s stock worth $966,000 after acquiring an additional 4,653 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Marvell Technology by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 386,480 shares of the semiconductor company’s stock worth $20,920,000 after buying an additional 1,530 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 1.7 %

MRVL traded up $1.17 during trading on Friday, reaching $69.90. 22,391,070 shares of the company’s stock were exchanged, compared to its average volume of 13,078,488. The company’s fifty day moving average price is $70.10 and its 200-day moving average price is $68.21. 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 fifty-two week low of $46.07 and a fifty-two week high of $85.76. The firm has a market capitalization of $60.51 billion, a PE ratio of -62.64, a P/E/G ratio of 3.24 and a beta of 1.46.

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

Marvell Technology announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on 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 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 at this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on 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 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 at this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the completion of the sale, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock valued at $5,504,065 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MRVL. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Stifel Nicolaus raised their price target on Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. B. Riley lifted their target price on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, TD Cowen lifted their target price on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $85.00.

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.