Bessemer Group Inc. Lowers Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Bessemer Group Inc. trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 39.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,130,442 shares of the semiconductor company's stock after selling 1,415,517 shares during the quarter. Bessemer Group Inc. owned approximately 0.25% of Marvell Technology worth $131,170,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $27,000. Lee Danner & Bass Inc. purchased a new stake in Marvell Technology in the 4th quarter valued at $35,000. Capital Analysts LLC grew its holdings in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after buying an additional 241 shares in the last quarter. Garde Capital Inc. purchased a new stake in Marvell Technology in the 1st quarter valued at $39,000. Finally, Chelsea Counsel Co. purchased a new stake in Marvell Technology in the 4th quarter valued at $44,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the transaction, the chief operating officer now owns 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 12,460 shares of the business's 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 disclosure for this sale can be found here. Insiders sold a total of 27,394 shares of company stock worth $1,656,076 in the last 90 days. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded Marvell Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. TD Cowen increased their price target on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. UBS Group reiterated a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Citigroup lowered their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Barclays lowered their price target on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

Marvell Technology Stock Down 3.5%

Shares of NASDAQ MRVL traded down $2.81 during midday trading on Friday, hitting $77.16. 27,213,956 shares of the company's stock were exchanged, compared to its average volume of 15,490,425. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a market cap of $66.65 billion, a PE ratio of -135.37, a P/E/G ratio of 0.87 and a beta of 1.76. The firm's fifty day simple moving average is $64.38 and its 200-day simple moving average is $83.26.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $0.24 EPS. The business's quarterly revenue was up 63.3% on a year-over-year basis. Research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

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.