Brown Advisory Inc. Has $1.19 Billion Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Brown Advisory Inc. grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,300,527 shares of the semiconductor company's stock after acquiring an additional 423,892 shares during the period. Marvell Technology comprises approximately 1.7% of Brown Advisory Inc.'s portfolio, making the stock its 11th largest position. Brown Advisory Inc. owned 2.23% of Marvell Technology worth $1,188,333,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MRVL. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Marvell Technology in the fourth quarter valued at $234,000. Dynamic Advisor Solutions LLC lifted its position in Marvell Technology by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after acquiring an additional 206 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Marvell Technology in the fourth quarter valued at $45,211,000. Yousif Capital Management LLC lifted its position in Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Marvell Technology in the fourth quarter valued at $818,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Up 0.6%

Shares of Marvell Technology stock traded up $0.40 during trading on Tuesday, hitting $71.95. The stock had a trading volume of 15,785,922 shares, compared to its average volume of 15,716,908. The stock has a 50 day simple moving average of $66.80 and a 200 day simple moving average of $81.24. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The company has a market capitalization of $62.15 billion, a PE ratio of -126.23, a P/E/G ratio of 0.81 and a beta of 1.81. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The firm 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 firm posted $0.24 earnings per share. The firm's revenue was up 63.3% on a year-over-year basis. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 EPS 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 given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's payout ratio is presently -42.11%.

Analyst Ratings Changes

A number of brokerages have recently commented on MRVL. Cantor Fitzgerald upped their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Redburn Atlantic began coverage on shares of Marvell Technology in a report on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Susquehanna reduced their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday, May 27th. Finally, Bank of America upped their target price on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 121,348 shares of the company's stock, valued at $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,394 shares of company stock valued at $1,656,076. Company insiders own 0.33% of the company's stock.

Marvell Technology Company 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.