Board of the Pension Protection Fund Takes $234,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Board of the Pension Protection Fund bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,800 shares of the semiconductor company's stock, valued at approximately $234,000.

Several other institutional investors also recently modified their holdings of the business. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter worth about $27,000. Security National Bank bought a new stake in shares of Marvell Technology in the 1st quarter worth approximately $31,000. Lee Danner & Bass Inc. purchased a new stake in shares of Marvell Technology in the 4th quarter worth approximately $35,000. Capital Analysts LLC increased its position in Marvell Technology by 236.3% during 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. Finally, Garde Capital Inc. bought a new position in Marvell Technology during the 1st quarter valued at approximately $39,000. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the transaction, the chief accounting officer now directly owns 29,572 shares in the company, valued at $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer now owns 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,394 shares of company stock worth $1,656,076. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MRVL shares. Rosenblatt Securities reissued a "buy" rating and issued a $124.00 target price on shares of Marvell Technology in a research note on Wednesday, June 18th. Melius Research upped their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Redburn Atlantic assumed coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 target price on the stock. Finally, Susquehanna cut their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a report on Tuesday, May 27th. Six investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $96.33.

Marvell Technology Trading Down 3.5%

Shares of Marvell Technology stock opened at $77.16 on Friday. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company's fifty day simple moving average is $64.38 and its 200-day simple moving average is $83.26. 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 stock has a market capitalization of $66.65 billion, a PE ratio of -135.37, a P/E/G ratio of 0.87 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $0.24 earnings per share. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently announced 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. This represents a $0.24 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio is -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.

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