WD Rutherford LLC Takes $327,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

WD Rutherford LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,415 shares of the semiconductor company’s stock, valued at approximately $327,000.

A number of other institutional investors have also modified their holdings of MRVL. IFP Advisors Inc increased its holdings in shares of Marvell Technology by 11.0% in the third quarter. IFP Advisors Inc now owns 6,389 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 634 shares during the period. Caprock Group LLC increased its holdings in shares of Marvell Technology by 7.5% in the third quarter. Caprock Group LLC now owns 4,755 shares of the semiconductor company’s stock valued at $257,000 after purchasing an additional 330 shares during the period. Occidental Asset Management LLC grew its holdings in Marvell Technology by 6.2% during the third quarter. Occidental Asset Management LLC now owns 21,926 shares of the semiconductor company’s stock worth $1,187,000 after acquiring an additional 1,278 shares during the period. L. Roy Papp & Associates LLP grew its holdings in Marvell Technology by 3.0% during the third quarter. L. Roy Papp & Associates LLP now owns 105,901 shares of the semiconductor company’s stock worth $5,732,000 after acquiring an additional 3,100 shares during the period. Finally, FengHe Fund Management Pte. Ltd. acquired a new position in Marvell Technology during the third quarter worth $38,595,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the sale, the executive vice president now owns 119,117 shares in the company, valued at $8,097,573.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the sale, the executive vice president now owns 21,266 shares in the company, valued at $1,376,973.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the sale, the executive vice president now owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The disclosure for this sale can be found here. Insiders sold 110,500 shares of company stock worth $7,477,515 over the last three months. 0.45% of the stock is owned by insiders.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $69.62 on Friday. The firm has a market capitalization of $60.29 billion, a PE ratio of -64.46, a P/E/G ratio of 4.94 and a beta of 1.50. 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 business has a 50-day moving average of $69.87 and a two-hundred day moving average of $62.62. Marvell Technology, Inc. has a 12 month low of $37.71 and a 12 month high of $85.76.

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

Marvell Technology announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership 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. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a report on Wednesday, March 27th. Evercore ISI assumed coverage on Marvell Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 price objective on the stock. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Saturday, April 20th. Raymond James upped their price objective on Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Oppenheimer reiterated an “outperform” rating and set a $80.00 target price (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

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.