Blair William & Co. IL Has $37.11 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Blair William & Co. IL increased its stake in Marvell Technology by 10.5%, owning 602,707 shares valued at approximately $37.1 million as of the end of the reporting period.
• Marvell Technology's stock recently dropped 7.4% and currently trades at around $74.45, with a 52-week high of $127.48 and a low of $47.08.
• The company reported earnings of $0.62 per share for the last quarter, exceeding analysts' estimates, alongside a revenue increase of 63.3% year-over-year.

Blair William & Co. IL grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 602,707 shares of the semiconductor company's stock after purchasing an additional 57,319 shares during the period. Blair William & Co. IL owned approximately 0.07% of Marvell Technology worth $37,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MRVL. Nuveen Asset Management LLC lifted its stake in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after buying an additional 6,543,132 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Marvell Technology by 748.3% during the 1st quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock worth $227,033,000 after purchasing an additional 3,264,557 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Marvell Technology by 8,128.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock worth $151,515,000 after purchasing an additional 2,430,945 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Marvell Technology during the 4th quarter worth $166,767,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MRVL shares. The Goldman Sachs Group started coverage on Marvell Technology in a research report on Thursday, July 10th. They issued a "neutral" rating and a $75.00 target price on the stock. Morgan Stanley increased their target price on Marvell Technology from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Stifel Nicolaus cut their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC lowered Marvell Technology from a "buy" rating to a "cautious" rating in a research report on Wednesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus price target of $94.70.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,286 shares of Marvell Technology 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 in the company, valued at approximately $2,086,110. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,434 shares of company stock valued at $1,097,826. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $0.49 during mid-day trading on Tuesday, reaching $76.04. 3,408,562 shares of the company traded hands, compared to its average volume of 18,736,875. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The firm has a market cap of $65.68 billion, a PE ratio of -133.26, a price-to-earnings-growth ratio of 0.81 and a beta of 1.83. The stock has a fifty day simple moving average of $71.91 and a 200-day simple moving average of $75.44.

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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion for 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 quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities research analysts anticipate 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 was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology's payout ratio 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.