UNICOM Systems Inc. Takes $4.16 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

UNICOM Systems Inc. purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 67,500 shares of the semiconductor company's stock, valued at approximately $4,156,000. Marvell Technology comprises approximately 0.8% of UNICOM Systems Inc.'s portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its stake in shares of Marvell Technology by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after buying an additional 460 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $361,000. AlphaQuest LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $61,000. Sequoia Financial Advisors LLC lifted its stake in shares of Marvell Technology by 2.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,398 shares of the semiconductor company's stock worth $1,701,000 after buying an additional 326 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in shares of Marvell Technology by 143.6% during the 4th quarter. Great Lakes Advisors LLC now owns 13,932 shares of the semiconductor company's stock worth $1,539,000 after buying an additional 8,213 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of MRVL traded up $1.83 during mid-day trading on Thursday, reaching $72.68. The company had a trading volume of 5,434,146 shares, compared to its average volume of 15,850,746. The company's 50 day simple moving average is $68.52 and its 200 day simple moving average is $79.65. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The company has a market capitalization of $62.78 billion, a price-to-earnings ratio of -127.33, a P/E/G ratio of 0.78 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted 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. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 63.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the transaction, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. This trade represents a 1.22% decrease in their position. The sale 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 that occurred on Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the transaction, the chief accounting officer owned 32,094 shares of the company's stock, valued at approximately $2,086,110. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,394 shares of company stock worth $1,656,076 in the last 90 days. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MRVL. The Goldman Sachs Group began coverage on shares of Marvell Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $75.00 target price for the company. UBS Group restated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. TD Cowen upped their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Melius Research upped their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Finally, Bank of America upped their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. One 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 stock. According to MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus target price of $94.47.

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.