Marvell Technology, Inc. (NASDAQ:MRVL) is Hartline Investment Corp’s 8th Largest Position

Hartline Investment Corp lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 375,717 shares of the semiconductor company’s stock after buying an additional 7,611 shares during the quarter. Marvell Technology makes up about 3.1% of Hartline Investment Corp’s investment portfolio, making the stock its 8th largest position. Hartline Investment Corp’s holdings in Marvell Technology were worth $23,133,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its stake in Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC lifted its position in Marvell Technology by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after purchasing an additional 857,087 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares during the last quarter. Finally, Norges Bank bought a new stake in Marvell Technology during the fourth quarter worth approximately $1,138,354,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer directly owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm’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 quarter, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Stock Up 1.2%

NASDAQ:MRVL opened at $75.15 on Friday. The company’s 50-day simple moving average is $66.22 and its 200-day simple moving average is $82.14. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The stock has a market capitalization of $64.92 billion, a P/E ratio of -131.84, a P/E/G ratio of 0.80 and a beta of 1.81.

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

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped 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. Barclays dropped their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. China Renaissance initiated coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They set a “buy” rating and a $110.00 price objective on the stock. Redburn Atlantic assumed coverage on shares of Marvell Technology in a report on Wednesday, May 28th. They issued a “neutral” rating and a $67.00 target price for the company. Finally, Evercore ISI dropped their price target on shares of Marvell Technology from $135.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Six research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Marvell Technology 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.