Stephens Inc. AR Takes $290,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Posted by MarketBeat News on Aug 5th, 2022

Stephens Inc. AR bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,051 shares of the semiconductor company’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. BlackRock Inc. increased its holdings in Marvell Technology by 3.4% during the fourth quarter. BlackRock Inc. now owns 70,754,622 shares of the semiconductor company’s stock worth $6,190,323,000 after buying an additional 2,305,751 shares during the last quarter. State Street Corp increased its holdings in Marvell Technology by 2.0% during the fourth quarter. State Street Corp now owns 18,457,563 shares of the semiconductor company’s stock worth $1,614,852,000 after buying an additional 365,469 shares during the last quarter. Geode Capital Management LLC increased its holdings in Marvell Technology by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 10,725,727 shares of the semiconductor company’s stock worth $936,999,000 after buying an additional 545,124 shares during the last quarter. Norges Bank purchased a new stake in Marvell Technology during the fourth quarter worth about $651,354,000. Finally, Invesco Ltd. increased its holdings in Marvell Technology by 79.7% during the fourth quarter. Invesco Ltd. now owns 6,314,046 shares of the semiconductor company’s stock worth $552,416,000 after buying an additional 2,801,069 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Marvell Technology Trading Down 1.5 %

Shares of MRVL opened at $57.35 on Friday. The firm has a market cap of $48.74 billion, a price-to-earnings ratio of -94.01, a PEG ratio of 2.15 and a beta of 1.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.67. Marvell Technology, Inc. has a fifty-two week low of $41.07 and a fifty-two week high of $93.85. The firm has a 50 day moving average price of $50.98 and a 200-day moving average price of $60.35.

Marvell Technology (NASDAQ:MRVL – Get Rating) last announced its quarterly earnings data on Thursday, May 26th. The semiconductor company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Marvell Technology had a negative net margin of 9.82% and a positive return on equity of 6.92%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $0.15 EPS. The business’s quarterly revenue was up 73.8% on a year-over-year basis. As a group, equities research analysts forecast that Marvell Technology, Inc. will post 1.69 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Friday, July 8th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, July 7th. Marvell Technology’s payout ratio is -39.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MRVL shares. The Goldman Sachs Group decreased their price objective on shares of Marvell Technology from $76.00 to $55.00 in a report on Friday, July 15th. Susquehanna Bancshares reduced their target price on shares of Marvell Technology from $105.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, May 25th. Needham & Company LLC reduced their target price on shares of Marvell Technology from $105.00 to $75.00 in a research note on Friday, May 27th. B. Riley downgraded shares of Marvell Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $63.00 in a research note on Wednesday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marvell Technology from $75.00 to $65.00 in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $83.41.

Insider Buying and Selling

In related news, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction on Friday, July 15th. The shares were sold at an average price of $47.67, for a total value of $238,350.00. Following the transaction, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at $5,508,888.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Marvell Technology news, EVP Mitchell Gaynor sold 5,000 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $47.67, for a total transaction of $238,350.00. Following the transaction, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at approximately $5,508,888.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Dan Christman sold 4,810 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $57.28, for a total transaction of $275,516.80. Following the transaction, the executive vice president now directly owns 108,393 shares in the company, valued at $6,208,751.04. The disclosure for this sale can be found here. Insiders have sold a total of 61,194 shares of company stock valued at $3,505,827 over the last three months. 0.45% of the stock is owned by company insiders.

Marvell Technology Company Profile

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.