Octavia Wealth Advisors LLC Has $328,000 Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Octavia Wealth Advisors LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 5,443 shares of the semiconductor company’s stock after acquiring an additional 206 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Marvell Technology were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. United Asset Strategies Inc. increased its holdings in shares of Marvell Technology by 3.8% during the 4th quarter. United Asset Strategies Inc. now owns 186,805 shares of the semiconductor company’s stock worth $11,266,000 after acquiring an additional 6,889 shares during the last quarter. Bourgeon Capital Management LLC boosted its stake in Marvell Technology by 96.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 1,020 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 500 shares during the period. Mackenzie Financial Corp boosted its stake in Marvell Technology by 1.2% in the 4th quarter. Mackenzie Financial Corp now owns 63,398 shares of the semiconductor company’s stock valued at $3,824,000 after purchasing an additional 721 shares during the period. Strs Ohio boosted its stake in Marvell Technology by 5.5% in the 4th quarter. Strs Ohio now owns 661,941 shares of the semiconductor company’s stock valued at $39,921,000 after purchasing an additional 34,646 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Marvell Technology in the 4th quarter valued at $208,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the transaction, the executive vice president now owns 119,117 shares in the company, valued at approximately $8,097,573.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the transaction, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the transaction, the executive vice president now owns 119,117 shares in the company, valued at approximately $8,097,573.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,000 shares of company stock worth $4,894,790. Company insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $68.28 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology, Inc. has a 52 week low of $36.90 and a 52 week high of $85.76. The stock has a market capitalization of $59.13 billion, a P/E ratio of -63.22, a price-to-earnings-growth ratio of 4.96 and a beta of 1.50. The stock has a fifty day moving average of $70.43 and a 200-day moving average of $62.09.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Marvell Technology’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology declared that its board has authorized a share repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently declared 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 0.35%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -22.22%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRVL. Citigroup restated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research note on Wednesday, March 27th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a research note on Monday, March 4th. Morgan Stanley boosted their price target on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. B. Riley restated a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Marvell Technology in a research note on Monday, March 4th. Finally, UBS Group upped their target price on Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.