Profund Advisors LLC Raises Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Profund Advisors LLC lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,560 shares of the semiconductor company’s stock after purchasing an additional 7,436 shares during the quarter. Profund Advisors LLC’s holdings in Marvell Technology were worth $4,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kovack Advisors Inc. purchased a new stake in Marvell Technology during the 2nd quarter worth approximately $233,000. Louisiana State Employees Retirement System grew its holdings in shares of Marvell Technology by 26.6% during the second quarter. Louisiana State Employees Retirement System now owns 53,800 shares of the semiconductor company’s stock valued at $3,216,000 after buying an additional 11,300 shares during the last quarter. Krilogy Financial LLC increased its position in shares of Marvell Technology by 108.6% in the 1st quarter. Krilogy Financial LLC now owns 24,973 shares of the semiconductor company’s stock valued at $1,081,000 after acquiring an additional 13,000 shares during the period. B. Metzler seel. Sohn & Co. AG raised its stake in Marvell Technology by 44.2% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 65,490 shares of the semiconductor company’s stock worth $2,836,000 after acquiring an additional 20,089 shares during the last quarter. Finally, Commerce Bank lifted its position in Marvell Technology by 1.9% during the 1st quarter. Commerce Bank now owns 32,307 shares of the semiconductor company’s stock worth $1,399,000 after acquiring an additional 611 shares during the period. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $0.92 during midday trading on Friday, hitting $55.58. The stock had a trading volume of 6,730,945 shares, compared to its average volume of 9,319,694. 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 1 year low of $33.75 and a 1 year high of $67.99. The company has a market capitalization of $47.95 billion, a PE ratio of -126.32, a P/E/G ratio of 6.77 and a beta of 1.42. The stock has a 50 day simple moving average of $52.56 and a 200-day simple moving average of $55.67.

Marvell Technology (NASDAQ:MRVL) last announced its 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. The company 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 firm’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.88 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Thursday, October 5th. Marvell Technology’s dividend payout ratio (DPR) is -54.55%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MRVL. Bank of America cut their price objective on Marvell Technology from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 25th. Morgan Stanley reduced their price target on shares of Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Evercore ISI dropped their price objective on shares of Marvell Technology from $70.00 to $60.00 in a report on Thursday, October 5th. Susquehanna raised their target price on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, August 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Wednesday, September 20th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.11.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $52.62, for a total value of $263,100.00. Following the completion of the sale, the executive vice president now owns 134,492 shares of the company’s stock, valued at $7,076,969.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $53.36, for a total value of $1,600,800.00. Following the transaction, the chief executive officer now directly owns 869,287 shares in the company, valued at approximately $46,385,154.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $52.62, for a total transaction of $263,100.00. Following the sale, the executive vice president now owns 134,492 shares of the company’s stock, valued at approximately $7,076,969.04. The disclosure for this sale can be found here. Insiders have sold a total of 72,000 shares of company stock worth $3,940,490 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.