4,478 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by MJP Associates Inc. ADV

MJP Associates Inc. ADV bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, Holdings Channel reports. The fund bought 4,478 shares of the semiconductor company’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Barrett & Company Inc. purchased a new stake in shares of Marvell Technology during the first quarter worth $26,000. Versant Capital Management Inc raised its holdings in Marvell Technology by 76.9% in the 2nd quarter. Versant Capital Management Inc now owns 474 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 206 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $28,000. KB Financial Partners LLC acquired a new position in shares of Marvell Technology during the 1st quarter worth approximately $32,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Marvell Technology in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.32% of the company’s stock.

Marvell Technology Stock Down 0.4 %

MRVL traded down $0.21 on Monday, reaching $54.28. The company’s stock had a trading volume of 2,194,407 shares, compared to its average volume of 12,661,100. The company has a market capitalization of $46.83 billion, a price-to-earnings ratio of -123.84, a P/E/G ratio of 6.91 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Marvell Technology, Inc. has a fifty-two week low of $33.75 and a fifty-two week high of $67.99. The stock has a 50 day moving average of $60.13 and a two-hundred day moving average of $52.06.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 24th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. The company’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. As a group, analysts forecast that Marvell Technology, Inc. will post 0.88 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.44%. Marvell Technology’s dividend payout ratio (DPR) is presently -54.55%.

Analysts Set New Price Targets

MRVL has been the subject of several recent analyst reports. Bank of America cut their price objective on shares of Marvell Technology from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 25th. KeyCorp upped their price objective on Marvell Technology from $70.00 to $80.00 in a report on Tuesday, July 11th. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Marvell Technology in a research note on Friday, August 25th. B. Riley increased their price target on Marvell Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.73.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $60.88, for a total transaction of $1,826,400.00. Following the transaction, the chief executive officer now owns 961,125 shares in the company, valued at approximately $58,513,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Chris Koopmans sold 2,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.36, for a total transaction of $118,720.00. Following the completion of the sale, the executive vice president now directly owns 136,737 shares in the company, valued at approximately $8,116,708.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $60.88, for a total value of $1,826,400.00. Following the completion of the sale, the chief executive officer now owns 961,125 shares in the company, valued at approximately $58,513,290. The disclosure for this sale can be found here. Insiders sold a total of 142,434 shares of company stock valued at $8,616,491 in the last ninety days. Insiders own 0.45% of the company’s stock.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.