Teachers Retirement System of The State of Kentucky Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Teachers Retirement System of The State of Kentucky bought a new position in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 191,071 shares of the semiconductor company’s stock, valued at approximately $8,199,000.

A number of other large investors have also recently made changes to their positions in the stock. Montag & Caldwell LLC increased its stake in Marvell Technology by 3.0% in the 2nd quarter. Montag & Caldwell LLC now owns 8,122 shares of the semiconductor company’s stock worth $354,000 after acquiring an additional 238 shares during the last quarter. Lido Advisors LLC boosted its holdings in Marvell Technology by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 15,599 shares of the semiconductor company’s stock valued at $669,000 after acquiring an additional 251 shares during the period. Solstein Capital LLC boosted its holdings in Marvell Technology by 6.6% during the 2nd quarter. Solstein Capital LLC now owns 4,432 shares of the semiconductor company’s stock valued at $193,000 after acquiring an additional 275 shares during the period. SWS Partners boosted its holdings in Marvell Technology by 0.7% during the 3rd quarter. SWS Partners now owns 38,064 shares of the semiconductor company’s stock valued at $1,633,000 after acquiring an additional 279 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Marvell Technology by 0.9% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,266 shares of the semiconductor company’s stock worth $1,299,000 after buying an additional 284 shares during the period. 81.28% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 7.3 %

NASDAQ:MRVL opened at $40.36 on Friday. The firm has a market cap of $34.58 billion, a PE ratio of -212.42, a price-to-earnings-growth ratio of 11.49 and a beta of 1.47. The stock has a fifty day moving average price of $42.65 and a 200 day moving average price of $42.22. Marvell Technology, Inc. has a 12-month low of $33.75 and a 12-month high of $76.59. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Marvell Technology had a negative net margin of 2.76% and a positive return on equity of 8.46%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.96 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Friday, April 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.59%. Marvell Technology’s dividend payout ratio (DPR) is -126.32%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Dan Christman sold 6,778 shares of Marvell Technology stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $46.05, for a total transaction of $312,126.90. Following the completion of the sale, the executive vice president now directly owns 85,425 shares of the company’s stock, valued at approximately $3,933,821.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Marvell Technology news, EVP Dan Christman sold 6,778 shares of Marvell Technology stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $46.05, for a total transaction of $312,126.90. Following the completion of the sale, the executive vice president now directly owns 85,425 shares of the company’s stock, valued at approximately $3,933,821.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dean E. Jr. Jarnac sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $45.00, for a total value of $270,000.00. Following the sale, the executive vice president now directly owns 18,879 shares of the company’s stock, valued at $849,555. The disclosure for this sale can be found here. Insiders sold 68,978 shares of company stock valued at $2,881,891 in the last ninety days. Insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MRVL. Barclays decreased their price objective on Marvell Technology from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. JPMorgan Chase & Co. cut their price objective on Marvell Technology from $72.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, March 3rd. Citigroup lowered their target price on Marvell Technology from $65.00 to $58.00 in a research note on Friday, March 3rd. Cowen lowered their target price on Marvell Technology from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, December 2nd. Finally, Rosenblatt Securities lowered their price target on Marvell Technology from $125.00 to $100.00 in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.54.

Marvell Technology Company Profile

(Get Rating)

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.

See Also

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

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