380,832 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 380,832 shares of the semiconductor company's stock, valued at approximately $23,448,000.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth $27,000. Rossby Financial LCC acquired a new position in shares of Marvell Technology in the first quarter worth $27,000. Security National Bank acquired a new position in shares of Marvell Technology in the first quarter worth $31,000. Lee Danner & Bass Inc. acquired a new position in shares of Marvell Technology in the fourth quarter worth $35,000. Finally, Capital Analysts LLC increased its stake in shares of Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 241 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MRVL shares. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Melius cut shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a report on Thursday, May 22nd. China Renaissance initiated coverage on shares of Marvell Technology in a report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price objective for the company. Melius Research upped their price objective on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a report on Wednesday, June 18th. Finally, KeyCorp decreased their price objective on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the firm'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 sale, the chief operating officer directly owned 92,065 shares of the company's stock, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

Shares of MRVL traded up $0.90 during trading hours on Friday, reaching $75.15. 10,217,992 shares of the company traded hands, compared to its average volume of 15,647,810. The stock's fifty day moving average is $66.54 and its 200 day moving average is $81.88. The stock has a market cap of $64.92 billion, a P/E ratio of -131.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81. 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 1-year low of $47.09 and a 1-year high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion during 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 for the quarter was up 63.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared 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. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

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.