Bensler LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Bensler LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 49,393 shares of the semiconductor company's stock, valued at approximately $3,041,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MRVL. Union Bancaire Privee UBP SA acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $16,699,000. Yousif Capital Management LLC raised its holdings in shares of Marvell Technology by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 13,893 shares of the semiconductor company's stock valued at $1,534,000 after purchasing an additional 146 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Marvell Technology by 5.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,584 shares of the semiconductor company's stock valued at $838,000 after purchasing an additional 403 shares in the last quarter. Stephens Inc. AR raised its stake in Marvell Technology by 19.6% during the 4th quarter. Stephens Inc. AR now owns 10,055 shares of the semiconductor company's stock worth $1,111,000 after acquiring an additional 1,648 shares in the last quarter. Finally, Savant Capital LLC raised its stake in Marvell Technology by 7.7% during the 4th quarter. Savant Capital LLC now owns 13,430 shares of the semiconductor company's stock worth $1,483,000 after acquiring an additional 959 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $2.45 during midday trading on Friday, hitting $67.19. The stock had a trading volume of 14,146,733 shares, compared to its average volume of 14,730,246. The company has a market capitalization of $58.04 billion, a PE ratio of -39.52, a P/E/G ratio of 1.61 and a beta of 1.76. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock has a 50 day moving average price of $60.30 and a two-hundred day moving average price of $85.20. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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

Marvell Technology Announces Dividend

The business 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. Marvell Technology's dividend payout ratio is currently -42.11%.

Analyst Ratings Changes

Several equities research analysts recently commented on MRVL shares. Benchmark reiterated a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. TD Cowen lifted their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Citigroup cut their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $94.73.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the transaction, the chief operating officer now owns 81,931 shares in the company, valued at approximately $5,639,310.73. The trade was a 6.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,541 shares of company stock valued at $2,079,948. Corporate insiders own 0.19% of the company's stock.

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.