Davis R M Inc. Invests $17.52 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Davis R M Inc. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the second quarter, according to its most recent filing with the SEC. The firm acquired 293,064 shares of the semiconductor company’s stock, valued at approximately $17,519,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barrett & Company Inc. purchased a new position in Marvell Technology in the 1st quarter valued at $26,000. Lindbrook Capital LLC boosted its position in shares of Marvell Technology by 67.6% during the 2nd quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 173 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Marvell Technology by 76.9% during the 2nd quarter. Versant Capital Management Inc now owns 474 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 206 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth $28,000. Finally, KB Financial Partners LLC purchased a new stake in shares of Marvell Technology during the 1st quarter worth $32,000. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 0.4 %

MRVL opened at $55.79 on Monday. The firm has a 50 day moving average price of $52.56 and a 200 day moving average price of $55.78. The company has a market cap of $48.14 billion, a PE ratio of -126.32, a price-to-earnings-growth ratio of 6.77 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $33.75 and a 1 year high of $67.99. 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 (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $0.41 earnings per share. Marvell Technology’s revenue for the quarter was down 11.6% on a year-over-year basis. Sell-side analysts expect that Marvell Technology, Inc. will post 0.88 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th were given a $0.06 dividend. This represents a $0.24 annualized dividend 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 Upgrades and Downgrades

Several brokerages have commented on MRVL. 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 report on Friday, August 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Marvell Technology in a research note on Friday, August 25th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Evercore ISI decreased their price objective on shares of Marvell Technology from $70.00 to $60.00 in a research report on Thursday, October 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective on shares of Marvell Technology in a research report on Friday, August 25th. Two investment 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.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $66.11.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 2,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $55.57, for a total transaction of $111,140.00. Following the transaction, the executive vice president now directly owns 134,737 shares in the company, valued at $7,487,335.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Chris Koopmans sold 2,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $55.57, for a total transaction of $111,140.00. Following the transaction, the executive vice president now directly owns 134,737 shares in the company, valued at $7,487,335.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $55.96, for a total value of $1,678,800.00. Following the transaction, the chief executive officer now owns 885,245 shares in the company, valued at $49,538,310.20. The disclosure for this sale can be found here. Insiders sold 72,000 shares of company stock valued at $3,940,490 over the last 90 days. 0.45% of the stock is owned by corporate insiders.

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.