6,800 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Bessemer Securities LLC

Bessemer Securities LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,800 shares of the semiconductor company’s stock, valued at approximately $407,000.

Other hedge funds have also added to or reduced their stakes in the company. Kovack Advisors Inc. purchased a new position in Marvell Technology during the 2nd quarter valued at about $233,000. Louisiana State Employees Retirement System grew its holdings in Marvell Technology by 26.6% during the 2nd 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 in the last quarter. Krilogy Financial LLC grew its holdings in Marvell Technology by 108.6% during the 1st quarter. Krilogy Financial LLC now owns 24,973 shares of the semiconductor company’s stock valued at $1,081,000 after buying an additional 13,000 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in Marvell Technology by 44.2% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 65,490 shares of the semiconductor company’s stock valued at $2,836,000 after buying an additional 20,089 shares in the last quarter. Finally, Commerce Bank grew its holdings in Marvell Technology by 1.9% during the 1st quarter. Commerce Bank now owns 32,307 shares of the semiconductor company’s stock valued at $1,399,000 after buying an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 83.32% of the company’s stock.

Marvell Technology Trading Up 1.4 %

Shares of NASDAQ:MRVL opened at $56.38 on Tuesday. The company has a market cap of $48.64 billion, a P/E ratio of -128.14, a PEG ratio of 6.77 and a beta of 1.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.65. Marvell Technology, Inc. has a 1 year low of $33.75 and a 1 year high of $67.99. The stock’s fifty day moving average price is $52.56 and its 200-day moving average price is $55.90.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. Marvell Technology had a positive return on equity of 6.13% and a negative net margin of 6.74%. The company’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. 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 announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th were issued 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 is -54.55%.

Analyst Ratings Changes

MRVL has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price on shares of Marvell Technology in a report on Friday, August 25th. Evercore ISI dropped their price target on Marvell Technology from $70.00 to $60.00 in a research report on Thursday, October 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Marvell Technology in a research report on Friday, August 25th. Bank of America dropped their price target on Marvell Technology from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 25th. Finally, Morgan Stanley dropped their price target on 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. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.11.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.33, for a total value of $286,650.00. Following the transaction, the executive vice president now owns 129,492 shares of the company’s stock, valued at $7,423,776.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.33, for a total value of $286,650.00. Following the completion of the sale, the executive vice president now owns 129,492 shares in the company, valued at $7,423,776.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $53.36, for a total value of $1,600,800.00. Following the completion of the sale, the chief executive officer now owns 869,287 shares of the company’s stock, valued at approximately $46,385,154.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,000 shares of company stock valued at $5,573,990. 0.45% of the stock is owned by company insiders.

Marvell Technology 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.