Bensler LLC Makes New $3.04 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Bensler LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 49,393 shares of the semiconductor company’s stock, valued at approximately $3,041,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA bought a new position in Marvell Technology in the 4th quarter valued at approximately $16,699,000. Yousif Capital Management LLC grew its position in Marvell Technology by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 13,893 shares of the semiconductor company’s stock valued at $1,534,000 after purchasing an additional 146 shares during the period. Kingsview Wealth Management LLC grew its position in Marvell Technology by 5.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,584 shares of the semiconductor company’s stock valued at $838,000 after purchasing an additional 403 shares during the period. Stephens Inc. AR boosted its holdings in Marvell Technology by 19.6% during the 4th quarter. Stephens Inc. AR now owns 10,055 shares of the semiconductor company’s stock worth $1,111,000 after acquiring an additional 1,648 shares during the last quarter. Finally, Savant Capital LLC boosted its holdings in Marvell Technology by 7.7% during the 4th quarter. Savant Capital LLC now owns 13,430 shares of the semiconductor company’s stock worth $1,483,000 after acquiring an additional 959 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. This represents a 1.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MRVL shares. Citigroup lowered their target price on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company reduced their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, May 30th. Rosenblatt Securities reissued a “buy” rating and set a $124.00 price objective on shares of Marvell Technology in a report on Friday, May 30th. Melius Research downgraded Marvell Technology from a “strong-buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Thursday, May 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.73.

Marvell Technology Stock Up 2.1%

Marvell Technology stock opened at $69.64 on Friday. The firm has a market cap of $60.16 billion, a price-to-earnings ratio of -40.96, a P/E/G ratio of 1.61 and a beta of 1.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The firm has a fifty day moving average price of $59.96 and a two-hundred day moving average price of $85.38.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue was up 63.3% on a year-over-year basis. As a group, analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is currently -42.11%.

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