Trueblood Wealth Management LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Trueblood Wealth Management LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, Holdings Channel reports. The fund purchased 4,792 shares of the semiconductor company’s stock, valued at approximately $289,000.

Other institutional investors have also recently modified their holdings of the company. Quilter Plc purchased a new position in shares of Marvell Technology in the 1st quarter valued at about $248,250,000. SRS Capital Advisors Inc. raised its position in Marvell Technology by 216.2% during the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 281 shares during the last quarter. West Tower Group LLC purchased a new position in shares of Marvell Technology during the 2nd quarter worth approximately $25,000. SJS Investment Consulting Inc. grew its holdings in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Finally, Buck Wealth Strategies LLC increased its position in Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 99,730 shares of the company’s stock, valued at $5,983,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $60.00, for a total value of $60,000.00. Following the sale, the chief financial officer now directly owns 99,730 shares in the company, valued at approximately $5,983,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 114,117 shares in the company, valued at $7,581,933.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,000 shares of company stock valued at $8,983,290. 0.45% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $1.43 during trading on Thursday, hitting $70.88. The company had a trading volume of 12,380,502 shares, compared to its average volume of 14,669,741. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology, Inc. has a 52 week low of $36.90 and a 52 week high of $85.76. The company has a market cap of $61.38 billion, a P/E ratio of -66.13, a PEG ratio of 5.01 and a beta of 1.51. The business’s 50-day moving average is $69.74 and its 200 day moving average is $60.32.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The business 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%. Marvell Technology’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology declared that its Board of Directors has authorized a share buyback program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Analyst Ratings Changes

A number of research firms recently commented on MRVL. B. Riley reiterated a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Susquehanna reduced their target price on Marvell Technology from $70.00 to $65.00 and set a “positive” rating on the stock in a research report on Friday, December 1st. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Monday, March 4th. Morgan Stanley lifted their target price on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Finally, Raymond James lifted their price objective on Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

Marvell Technology 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.