Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by CRA Financial Services LLC

CRA Financial Services LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 133.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,897 shares of the semiconductor company’s stock after acquiring an additional 9,665 shares during the quarter. CRA Financial Services LLC’s holdings in Marvell Technology were worth $1,040,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $234,000. Everhart Financial Group Inc. purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $437,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $16,699,000. CIBC Asset Management Inc increased its position in shares of Marvell Technology by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 197,102 shares of the semiconductor company’s stock worth $21,770,000 after purchasing an additional 6,699 shares in the last quarter. Finally, WD Rutherford LLC increased its position in shares of Marvell Technology by 37.7% during the fourth quarter. WD Rutherford LLC now owns 25,158 shares of the semiconductor company’s stock worth $2,779,000 after purchasing an additional 6,892 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Down 3.5%

MRVL stock opened at $67.19 on Friday. The company’s 50 day moving average price is $60.30 and its 200 day moving average price is $85.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. 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 market capitalization of $58.04 billion, a price-to-earnings ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 63.3% compared to the same quarter last year. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.36%. Marvell Technology’s dividend payout ratio is currently -42.11%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 12,460 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. The trade was a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock worth $2,079,948 over the last three months. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MRVL. Evercore ISI dropped their target price on Marvell Technology from $135.00 to $133.00 and set an “outperform” rating for the company in a report on Friday, May 30th. B. Riley cut their target price on Marvell Technology from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Wells Fargo & Company cut their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Stifel Nicolaus cut their target price on Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Marvell Technology from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.73.

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.