Neo Ivy Capital Management Invests $352,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Neo Ivy Capital Management acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,712 shares of the semiconductor company’s stock, valued at approximately $352,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Analysts LLC boosted its stake in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 241 shares in the last quarter. Chelsea Counsel Co. bought a new stake in Marvell Technology in the fourth quarter worth $44,000. Bernard Wealth Management Corp. bought a new stake in Marvell Technology in the fourth quarter worth $45,000. Hughes Financial Services LLC purchased a new stake in Marvell Technology during the first quarter valued at about $26,000. Finally, Johnson Financial Group Inc. grew its stake in shares of Marvell Technology by 125.0% during the fourth quarter. Johnson Financial Group Inc. now owns 423 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 235 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their target price on Marvell Technology from $70.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Melius Research increased their price objective on Marvell Technology from $67.00 to $76.00 and gave the company a “hold” rating in a research note on Wednesday, June 18th. Needham & Company LLC downgraded shares of Marvell Technology from a “buy” rating to a “cautious” rating in a research note on Wednesday, July 16th. China Renaissance assumed coverage on shares of Marvell Technology in a report on Thursday, June 5th. They set a “buy” rating and a $110.00 price target for the company. Finally, Barclays cut their price target on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.47.

Insider Activity

In other news, EVP Mark Casper sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the sale, the executive vice president directly owned 17,163 shares of the company’s stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,286 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $65.00, for a total value of $83,590.00. Following the completion of the sale, the chief accounting officer directly owned 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 17,934 shares of company stock valued at $1,187,826. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $74.21 on Friday. 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 fifty day simple moving average of $69.95 and a 200-day simple moving average of $77.39. The stock has a market cap of $64.10 billion, a P/E ratio of -130.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.81. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48.

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

Marvell Technology Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is -42.11%.

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.