University of Texas Texas AM Investment Management Co. Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

University of Texas Texas AM Investment Management Co. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,315 shares of the semiconductor company’s stock, valued at approximately $881,000.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. Hughes Financial Services LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at about $26,000. Rossby Financial LCC acquired a new position in shares of Marvell Technology in the 1st quarter valued at about $27,000. Security National Bank acquired a new position in shares of Marvell Technology in the 1st quarter valued at about $31,000. Capital Analysts LLC lifted 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. Finally, Garde Capital Inc. acquired a new position in shares of Marvell Technology in the 1st quarter valued at about $39,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL opened at $74.21 on Monday. The business’s 50 day moving average is $69.95 and its two-hundred day moving average is $77.11. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The firm has a market cap of $64.10 billion, a price-to-earnings ratio of -130.19, a PEG ratio of 0.80 and a beta of 1.81. 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 issued its quarterly 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 positive return on equity of 8.42% and a negative net margin of 7.56%. The business 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 business earned $0.24 EPS. The business’s quarterly revenue was up 63.3% on a year-over-year basis. Analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s payout ratio is -42.11%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares in the company, valued at $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 3,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the sale, the executive vice president owned 17,163 shares of the company’s stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,934 shares of company stock worth $1,187,826 in the last ninety days. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MRVL shares. Wall Street Zen lowered Marvell Technology from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Citigroup reduced their price objective on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Needham & Company LLC lowered Marvell Technology from a “buy” rating to a “cautious” rating in a research note on Wednesday, July 16th. UBS Group reissued a “buy” rating on shares of Marvell Technology in a research report on Monday, June 2nd. Finally, Barclays reduced their price target on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. One equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.47.

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.