Steph & Co. Lowers Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Steph & Co. trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,274 shares of the semiconductor company’s stock after selling 218 shares during the period. Steph & Co.’s holdings in Marvell Technology were worth $140,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Point72 Asia Singapore Pte. Ltd. bought a new stake in Marvell Technology during the fourth quarter valued at approximately $234,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of Marvell Technology by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company’s stock worth $266,000 after acquiring an additional 206 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Marvell Technology in the fourth quarter worth $45,211,000. Yousif Capital Management LLC increased its position in shares of Marvell Technology by 8.4% during the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company’s stock valued at $927,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Marvell Technology during the fourth quarter worth approximately $818,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Up 6.3%

NASDAQ:MRVL opened at $75.21 on Wednesday. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a market capitalization of $64.97 billion, a PE ratio of -131.95, a P/E/G ratio of 0.77 and a beta of 1.76. The firm’s 50-day moving average price is $62.82 and its 200-day moving average price is $83.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 63.3% on a year-over-year basis. On average, equities analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology’s payout ratio is -42.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MRVL. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $124.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Wells Fargo & Company decreased their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Susquehanna dropped their price objective on Marvell Technology from $110.00 to $90.00 and set a “positive” rating for the company in a research note on Tuesday, May 27th. Finally, Evercore ISI decreased their target price on shares of Marvell Technology from $135.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $96.33.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the transaction, the chief accounting officer now directly owns 29,572 shares of the company’s stock, valued at approximately $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 12,460 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.33% of the stock is currently 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 and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.