Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,935,573 shares of the semiconductor company’s stock after purchasing an additional 12,241 shares during the period. Dimensional Fund Advisors LP’s holdings in Marvell Technology were worth $235,226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC purchased a new position in Marvell Technology in the first quarter valued at $1,210,000. Yousif Capital Management LLC raised its holdings in Marvell Technology by 6.6% in the first quarter. Yousif Capital Management LLC now owns 14,918 shares of the semiconductor company’s stock valued at $1,070,000 after acquiring an additional 925 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Marvell Technology by 2.8% in the first quarter. Raymond James Trust N.A. now owns 12,780 shares of the semiconductor company’s stock worth $917,000 after acquiring an additional 344 shares during the last quarter. Cetera Investment Advisers grew its holdings in Marvell Technology by 20.6% during the 1st quarter. Cetera Investment Advisers now owns 28,668 shares of the semiconductor company’s stock worth $2,056,000 after acquiring an additional 4,888 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Marvell Technology by 35.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,099 shares of the semiconductor company’s stock valued at $366,000 after purchasing an additional 1,337 shares during the last quarter. Institutional investors and hedge funds own 83.32% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $54.66 on Friday. The stock has a market capitalization of $47.16 billion, a P/E ratio of -124.23, a P/E/G ratio of 7.08 and a beta of 1.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.65 and a current ratio of 1.03. Marvell Technology, Inc. has a 1 year low of $33.75 and a 1 year high of $67.99. The company’s fifty day moving average is $52.56 and its two-hundred day moving average is $55.45.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.88 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Thursday, October 5th. Marvell Technology’s dividend payout ratio is presently -54.55%.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $55.57, for a total value of $111,140.00. Following the completion of the transaction, the executive vice president now owns 134,737 shares in the company, valued at approximately $7,487,335.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $55.96, for a total value of $1,678,800.00. Following the sale, the chief executive officer now directly owns 885,245 shares in the company, valued at approximately $49,538,310.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $55.57, for a total transaction of $111,140.00. Following the transaction, the executive vice president now owns 134,737 shares of the company’s stock, valued at $7,487,335.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,000 shares of company stock worth $3,940,490. 0.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the subject of a number of analyst reports. B. Riley boosted their target price on shares of Marvell Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Stifel Nicolaus increased their price objective on Marvell Technology from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Barclays boosted their target price on Marvell Technology from $55.00 to $75.00 in a research note on Thursday, July 20th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Marvell Technology in a research note on Friday, August 25th. Finally, Bank of America reduced 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. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.11.

About Marvell Technology

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.