111 Capital Buys Shares of 25,082 Marvell Technology, Inc. (NASDAQ:MRVL)

111 Capital purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 25,082 shares of the semiconductor company's stock, valued at approximately $2,770,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MRVL. Norges Bank bought a new position in shares of Marvell Technology in the 4th quarter worth $1,138,354,000. GQG Partners LLC purchased a new position in Marvell Technology in the fourth quarter worth $802,410,000. Nuveen Asset Management LLC grew its position in Marvell Technology by 232.2% in the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after acquiring an additional 6,543,132 shares in the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the last quarter. Finally, Invesco Ltd. raised its position in Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Melius Research lowered Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a research report on Thursday, May 22nd. Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. B. Riley reduced their price target on shares of Marvell Technology from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Raymond James restated an "outperform" rating and issued a $90.00 price objective (down from $110.00) on shares of Marvell Technology in a report on Friday. Finally, Needham & Company LLC reduced their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $94.21.

Marvell Technology Trading Down 7.0%

Shares of Marvell Technology stock traded down $4.45 during midday trading on Friday, reaching $59.28. 48,266,075 shares of the company's stock traded hands, compared to its average volume of 14,539,482. The stock has a 50 day moving average of $58.96 and a 200-day moving average of $87.09. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a market cap of $51.21 billion, a PE ratio of -34.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. 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 previous year, the firm earned $0.24 EPS. The company's quarterly revenue was up 63.3% compared to the same quarter last year. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the transaction, the executive vice president now owns 626 shares of the company's stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred 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 sale, the chief financial officer now owns 124,348 shares in the company, valued at $7,460,880. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,541 shares of company stock worth $2,079,948 over the last three months. Company insiders own 0.33% of the company's stock.

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.