Breakwater Capital Group Has $529,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Breakwater Capital Group lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,459 shares of the semiconductor company’s stock after purchasing an additional 847 shares during the quarter. Breakwater Capital Group’s holdings in Marvell Technology were worth $529,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC raised its stake in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the period. Optimum Investment Advisors bought a new stake in Marvell Technology in the first quarter valued at $35,000. Oliver Lagore Vanvalin Investment Group grew its position in Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares during the period. Finally, Versant Capital Management Inc grew its position 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 acquiring an additional 161 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 1.7 %

NASDAQ:MRVL opened at $69.90 on Monday. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The business’s 50-day moving average price is $70.26 and its two-hundred day moving average price is $68.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, research analysts expect that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRVL. TD Cowen upped their price target on Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. B. Riley upped their price target on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 31st. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Stifel Nicolaus increased their target price on Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, May 31st. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the sale, the chief financial officer now owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Daniel Durn acquired 1,425 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the acquisition, the director now owns 1,923 shares in the company, valued at $135,013.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the transaction, the chief financial officer now owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The disclosure for this sale can be found here. Insiders have sold a total of 78,500 shares of company stock valued at $5,432,565 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.