Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Lessened by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,129 shares of the semiconductor company’s stock after selling 181 shares during the period. Parkside Financial Bank & Trust’s holdings in Marvell Technology were worth $68,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its position in shares of 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 increased its stake 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 valued at $25,000 after buying an additional 425 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake 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 valued at $31,000 after buying an additional 165 shares during the period. BluePath Capital Management LLC acquired a new position in Marvell Technology during the 3rd quarter valued at about $31,000. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 59.9% during the 3rd quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 226 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Saturday, April 20th. KeyCorp lowered their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Raymond James lifted their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.13.

Marvell Technology Price Performance

NASDAQ MRVL opened at $67.48 on Friday. Marvell Technology, Inc. has a 12-month low of $37.42 and a 12-month high of $85.76. The stock has a market capitalization of $58.44 billion, a PE ratio of -62.48, a price-to-earnings-growth ratio of 4.74 and a beta of 1.50. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $69.80 and a two-hundred day moving average price of $62.48.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 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 analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio is -22.22%.

Marvell Technology announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $64.75, for a total value of $161,875.00. Following the transaction, the executive vice president now owns 21,266 shares of the company’s stock, valued at $1,376,973.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on 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 owns 21,266 shares of the company’s stock, valued at $1,376,973.50. The sale 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 stock was sold at an average price of $71.25, for a total transaction of $356,250.00. Following the transaction, the executive vice president now directly owns 109,117 shares in the company, valued at approximately $7,774,586.25. The disclosure for this sale can be found here. Insiders have sold a total of 110,500 shares of company stock valued at $7,477,515 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Company Profile

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.