DnB Asset Management AS Increases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

DnB Asset Management AS boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,434 shares of the semiconductor company’s stock after acquiring an additional 2,968 shares during the quarter. DnB Asset Management AS’s holdings in Marvell Technology were worth $6,200,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MRVL. Waldron Private Wealth LLC acquired a new stake in Marvell Technology during the 1st quarter valued at $218,000. Equitable Trust Co. acquired a new stake in shares of Marvell Technology during the first quarter valued at about $210,000. Visionary Wealth Advisors grew its stake in shares of Marvell Technology by 56.0% during the first quarter. Visionary Wealth Advisors now owns 4,151 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 1,490 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Marvell Technology during the first quarter worth about $18,145,000. Finally, 180 Wealth Advisors LLC lifted its stake in shares of Marvell Technology by 7.0% in the first quarter. 180 Wealth Advisors LLC now owns 7,530 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 491 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Activity

In related news, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction dated Friday, July 15th. The stock was 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 $5,508,888.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Marvell Technology news, EVP Dan Christman sold 14,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total value of $801,920.00. Following the transaction, the executive vice president now owns 92,203 shares of the company’s stock, valued at $5,281,387.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $47.67, for a total value of $238,350.00. Following the sale, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at $5,508,888.21. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $1,279,020 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRVL. KeyCorp dropped their price objective on Marvell Technology from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 26th. UBS Group cut their price target on shares of Marvell Technology from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. BMO Capital Markets decreased their price objective on shares of Marvell Technology from $98.00 to $82.00 in a report on Friday, May 27th. Susquehanna cut their target price on shares of Marvell Technology from $105.00 to $90.00 in a research note on Wednesday, May 25th. Finally, Cowen decreased their price target on Marvell Technology from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $81.21.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $46.35 on Monday. The company has a 50 day moving average of $51.02 and a 200-day moving average of $55.95. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 0.25. Marvell Technology, Inc. has a twelve month low of $41.07 and a twelve month high of $93.85.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its earnings results on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. On average, research analysts expect that Marvell Technology, Inc. will post 1.61 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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