Montag A & Associates Inc. Has $4.09 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Montag A & Associates Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,776 shares of the semiconductor company’s stock after acquiring an additional 2,939 shares during the quarter. Montag A & Associates Inc.’s holdings in Marvell Technology were worth $4,088,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. FMR LLC raised its position in Marvell Technology by 0.3% during the 3rd quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock worth $7,005,447,000 after purchasing an additional 421,622 shares during the last quarter. Vanguard Group Inc. raised its position in Marvell Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 70,451,609 shares of the semiconductor company’s stock worth $3,813,546,000 after purchasing an additional 477,731 shares during the last quarter. Matrix Capital Management Company LP raised its position in Marvell Technology by 54.3% during the 3rd quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock worth $712,720,000 after purchasing an additional 4,634,127 shares during the last quarter. Invesco Ltd. raised its position in Marvell Technology by 9.2% during the 3rd quarter. Invesco Ltd. now owns 8,259,375 shares of the semiconductor company’s stock worth $447,080,000 after purchasing an additional 698,359 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Marvell Technology by 43.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after purchasing an additional 2,142,391 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MRVL. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. KeyCorp lowered their price objective on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Oppenheimer reissued an “outperform” rating and issued a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Finally, Morgan Stanley lifted their price objective on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $81.13.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s 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 sale, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the sale, the executive vice president now owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the completion of the transaction, the chief financial officer now directly owns 102,986 shares of the company’s stock, valued at $6,981,420.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,500 shares of company stock worth $7,473,805. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

NASDAQ MRVL traded down $0.43 on Thursday, reaching $67.68. 13,646,566 shares of the company’s stock traded hands, compared to its average volume of 13,571,967. The stock has a market cap of $58.61 billion, a PE ratio of -62.67, a P/E/G ratio of 5.01 and a beta of 1.48. 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, Inc. has a 12 month low of $39.23 and a 12 month high of $85.76. The stock has a 50-day simple moving average of $69.80 and a 200 day simple moving average of $63.54.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion for 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 revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s payout ratio is currently -22.22%.

Marvell Technology announced that its board has authorized 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.