Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 436,203 shares of the semiconductor company’s stock after selling 27,861 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Marvell Technology worth $30,925,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MRVL. Pinkerton Retirement Specialists LLC purchased a new position in Marvell Technology during the 1st quarter worth $521,000. Tocqueville Asset Management L.P. boosted its position in shares of Marvell Technology by 1.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 466,378 shares of the semiconductor company’s stock worth $33,057,000 after buying an additional 7,066 shares in the last quarter. GM Advisory Group LLC grew its stake in Marvell Technology by 113.1% in the 1st quarter. GM Advisory Group LLC now owns 25,837 shares of the semiconductor company’s stock valued at $1,831,000 after acquiring an additional 13,710 shares during the last quarter. Glaxis Capital Management LLC acquired a new stake in Marvell Technology in the 1st quarter valued at about $354,000. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in Marvell Technology by 51.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 19,188 shares of the semiconductor company’s stock valued at $1,360,000 after acquiring an additional 6,537 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.
Insiders Place Their Bets
In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the transaction, the insider now directly owns 838,571 shares in the company, valued at approximately $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction of $369,400.00. Following the transaction, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $7,255,235 over the last 90 days. 0.33% of the stock is owned by company insiders.
Marvell Technology Price Performance
NASDAQ MRVL traded up $0.73 during mid-day trading on Monday, reaching $67.24. 1,502,528 shares of the company’s stock traded hands, compared to its average volume of 12,636,083. The company has a fifty day simple moving average of $71.76 and a 200-day simple moving average of $69.80. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, equities analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current year.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.
Analyst Upgrades and Downgrades
MRVL has been the topic of several research reports. Evercore ISI increased their price target on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Oppenheimer reiterated an “outperform” rating and set a $90.00 price objective (up previously from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Citigroup restated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. Finally, Stifel Nicolaus lifted their price target on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $85.50.
View Our Latest Stock Analysis on Marvell Technology
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.
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