Tsfg LLC Has $117,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Tsfg LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 18.8% in the 1st quarter, Holdings Channel reports. The fund owned 1,893 shares of the semiconductor company’s stock after buying an additional 300 shares during the period. Tsfg LLC’s holdings in Marvell Technology were worth $117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $27,000. Security National Bank acquired a new position in shares of Marvell Technology in the first quarter valued at approximately $31,000. Lee Danner & Bass Inc. acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $35,000. Capital Analysts LLC increased its stake in shares of Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 241 shares during the period. Finally, Garde Capital Inc. acquired a new position in shares of Marvell Technology in the first quarter valued at approximately $39,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $77.16 on Friday. The company has a fifty day simple moving average of $64.38 and a 200 day simple moving average of $83.26. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The company has a market cap of $66.65 billion, a P/E ratio of -135.37, a PEG ratio of 0.87 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 posted $0.24 EPS. Marvell Technology’s revenue was up 63.3% compared to the same quarter last year. Sell-side analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, July 11th. Marvell Technology’s payout ratio is currently -42.11%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 124,348 shares in the company, valued at approximately $7,460,880. This trade represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Evercore ISI lowered their price objective on Marvell Technology from $135.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Melius downgraded Marvell Technology from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research note on Thursday, May 22nd. Raymond James Financial restated an “outperform” rating and set a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, B. Riley restated a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.