Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 183.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,655 shares of the semiconductor company’s stock after buying an additional 81,401 shares during the period. MBB Public Markets I LLC’s holdings in Marvell Technology were worth $8,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after buying an additional 3,993,414 shares during the last quarter. Aspex Management HK Ltd increased its stake in shares of Marvell Technology by 103.8% during the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock worth $344,525,000 after purchasing an additional 2,908,912 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Marvell Technology during the 1st quarter worth approximately $181,559,000. Ameriprise Financial Inc. lifted its stake in Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares in the last quarter. Finally, Swedbank AB grew its holdings in Marvell Technology by 653.5% during the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after buying an additional 2,024,269 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the transaction, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,000 shares of company stock worth $11,878,785. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley raised their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Finally, B. Riley increased their target price on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Price Performance

Shares of MRVL stock opened at $73.45 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The firm has a fifty day moving average of $68.24 and a two-hundred day moving average of $69.55. The firm has a market cap of $63.58 billion, a P/E ratio of -65.00, a P/E/G ratio of 3.12 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

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.