Calamos Advisors LLC Sells 241,536 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Calamos Advisors LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 92.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 20,330 shares of the semiconductor company's stock after selling 241,536 shares during the period. Calamos Advisors LLC's holdings in Marvell Technology were worth $1,252,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $1,138,354,000. GQG Partners LLC acquired a new stake in Marvell Technology in the fourth quarter worth $802,410,000. Nuveen Asset Management LLC raised its holdings in Marvell Technology by 232.2% in the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after purchasing an additional 6,543,132 shares during the period. Wellington Management Group LLP increased its position in shares of Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after acquiring an additional 3,737,705 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Insiders Place Their Bets

In other Marvell Technology 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 transaction of $390,600.00. Following the completion of the sale, the chief operating officer directly owned 92,065 shares in the company, valued at $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 available through this hyperlink. 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. Over the last 90 days, insiders sold 27,394 shares of company stock valued at $1,656,076. Insiders own 0.33% of the company's stock.

Marvell Technology Stock Up 0.6%

Shares of Marvell Technology stock traded up $0.40 during trading on Tuesday, hitting $71.95. The company's stock had a trading volume of 15,785,922 shares, compared to its average volume of 15,716,981. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The company has a fifty day simple moving average of $66.80 and a two-hundred day simple moving average of $81.24. 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. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Marvell Technology's quarterly revenue was up 63.3% on a year-over-year basis. Equities research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm 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 $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KeyCorp cut their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. B. Riley restated a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Needham & Company LLC reiterated a "buy" rating and issued a $85.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, Morgan Stanley lifted their price objective on shares of Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Six 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $96.33.

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.