First Pacific Financial Sells 232 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

First Pacific Financial cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 13,191 shares of the semiconductor company’s stock after selling 232 shares during the period. First Pacific Financial’s holdings in Marvell Technology were worth $796,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Highland Capital Management LLC raised its stake in Marvell Technology by 0.7% during the fourth quarter. Highland Capital Management LLC now owns 88,710 shares of the semiconductor company’s stock valued at $5,350,000 after buying an additional 640 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Marvell Technology by 14.7% during the 4th quarter. Pacer Advisors Inc. now owns 40,398 shares of the semiconductor company’s stock valued at $2,436,000 after purchasing an additional 5,179 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth $177,000. Raymond James & Associates raised its stake in shares of Marvell Technology by 29.0% in the fourth quarter. Raymond James & Associates now owns 920,632 shares of the semiconductor company’s stock worth $55,523,000 after purchasing an additional 206,872 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of Marvell Technology by 56.8% during the fourth 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. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MRVL shares. Morgan Stanley upped their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Marvell Technology in a report on Friday, December 1st. Oppenheimer restated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Benchmark reiterated a “buy” rating and issued a $75.00 price objective on shares of Marvell Technology in a research note on Friday, December 1st. Finally, Citigroup reaffirmed a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a report on Wednesday. One investment 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, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $75.75.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total value of $326,300.00. Following the completion of the transaction, the executive vice president now directly owns 124,117 shares of the company’s stock, valued at $8,099,875.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the transaction, the executive vice president now directly owns 124,117 shares of the company’s stock, valued at approximately $8,099,875.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $65.59, for a total transaction of $1,967,700.00. Following the sale, the chief executive officer now owns 792,929 shares in the company, valued at approximately $52,008,213.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,000 shares of company stock valued at $8,983,290. Company insiders own 0.45% of the company’s stock.

Marvell Technology Stock Up 5.9 %

NASDAQ:MRVL opened at $72.31 on Thursday. Marvell Technology, Inc. has a twelve month low of $36.90 and a twelve month high of $85.76. The stock has a fifty day simple moving average of $69.74 and a 200-day simple moving average of $60.32. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Marvell Technology announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.