Board of the Pension Protection Fund Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Board of the Pension Protection Fund acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the first quarter, HoldingsChannel.com reports. The fund acquired 3,800 shares of the semiconductor company’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Marvell Technology in the fourth quarter worth about $234,000. Dynamic Advisor Solutions LLC increased its stake in Marvell Technology by 5.0% in 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 bought a new stake in Marvell Technology in the 4th quarter worth approximately $45,211,000. Yousif Capital Management LLC raised its holdings 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 worth $927,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $818,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 3.5%

Shares of NASDAQ MRVL opened at $77.16 on Friday. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The firm has a market cap of $66.65 billion, a PE ratio of -135.37, a price-to-earnings-growth ratio of 0.87 and a beta of 1.76. The business has a fifty day simple moving average of $64.38 and a two-hundred day simple moving average of $83.26. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 63.3% on a year-over-year basis. Analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.31%. Marvell Technology’s dividend payout ratio is presently -42.11%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,286 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the sale, the chief accounting officer now owns 32,094 shares of the company’s stock, valued at approximately $2,086,110. This trade represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was 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. Insiders have sold a total of 27,394 shares of company stock valued at $1,656,076 over the last ninety days. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Loop Capital reduced their price target on shares of Marvell Technology from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 30th. KeyCorp decreased their target price on shares of Marvell Technology from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. TD Cowen lifted their price target on Marvell Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Finally, China Renaissance assumed coverage on Marvell Technology in a research report on Thursday, June 5th. They set a “buy” rating and a $110.00 price objective on the stock. Six analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.33.

About Marvell Technology

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.