Tsfg LLC Lowers Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Tsfg LLC reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,481 shares of the semiconductor company’s stock after selling 151 shares during the quarter. Tsfg LLC’s holdings in Marvell Technology were worth $105,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MRVL. Bruce G. Allen Investments LLC boosted its position in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Blue Trust Inc. grew its position in Marvell Technology by 23.4% during the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock worth $45,000 after buying an additional 155 shares during the period. Versant Capital Management Inc increased its holdings in Marvell Technology by 34.7% in the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 161 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its position in shares of Marvell Technology by 0.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after acquiring an additional 162 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the transaction, the chief financial officer now owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the transaction, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. Insiders sold a total of 79,500 shares of company stock worth $5,504,065 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $69.90 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The stock’s 50 day moving average is $70.26 and its two-hundred day moving average is $68.32. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. On average, analysts predict that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology’s dividend payout ratio is presently -21.24%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MRVL shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Marvell Technology in a report on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group started coverage on shares of Marvell Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.