D.A. Davidson & CO. Has $1.99 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

D.A. Davidson & CO. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,051 shares of the semiconductor company’s stock after purchasing an additional 3,958 shares during the period. D.A. Davidson & CO.’s holdings in Marvell Technology were worth $1,993,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MRVL. SJS Investment Consulting Inc. boosted its holdings in shares of Marvell Technology by 56.8% during 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 period. Oliver Lagore Vanvalin Investment Group boosted its holdings 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 worth $31,000 after buying an additional 165 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Marvell Technology by 34.7% during 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 period. Raleigh Capital Management Inc. boosted its holdings in shares of Marvell Technology by 532.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after buying an additional 527 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Marvell Technology by 157.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after buying an additional 472 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock opened at $76.68 on Friday. The company has a 50 day simple moving average of $69.23 and a 200 day simple moving average of $65.35. The stock has a market cap of $66.36 billion, a price-to-earnings ratio of -71.00, a P/E/G ratio of 3.85 and a beta of 1.48. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. Research analysts anticipate that Marvell Technology, Inc. will post 0.73 EPS for the current fiscal year.

Marvell Technology declared 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 shares. This repurchase authorization allows the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s dividend payout ratio is -22.22%.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.44, for a total transaction of $332,200.00. Following the completion of the transaction, the executive vice president now directly owns 114,117 shares in the company, valued at approximately $7,581,933.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.44, for a total value of $332,200.00. Following the completion of the transaction, the executive vice president now directly owns 114,117 shares in the company, valued at approximately $7,581,933.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $69.18, for a total transaction of $2,075,400.00. Following the completion of the transaction, the chief executive officer now owns 686,545 shares of the company’s stock, valued at $47,495,183.10. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,522,055 in the last three months. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $95.00 target price (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Citigroup reaffirmed a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Morgan Stanley boosted their price objective on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $81.28.

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.