Calamos Advisors LLC Trims Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter valued at $27,000. Rossby Financial LCC bought a new stake in shares of Marvell Technology during the 1st quarter worth about $27,000. Security National Bank bought a new position in shares of Marvell Technology in the first quarter worth about $31,000. Lee Danner & Bass Inc. bought a new position in shares of Marvell Technology during the 4th quarter worth about $35,000. Finally, Capital Analysts LLC raised its stake in shares of Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 241 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MRVL shares. KeyCorp decreased their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Bank of America raised their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Needham & Company LLC restated a "buy" rating and issued a $85.00 price target on shares of Marvell Technology in a report on Wednesday, June 18th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Redburn Atlantic initiated coverage on Marvell Technology in a report on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology Stock Down 4.8%

MRVL stock traded down $3.63 during trading on Monday, reaching $71.55. 21,638,604 shares of the stock were exchanged, compared to its average volume of 19,118,994. The firm's 50 day moving average is $66.54 and its 200 day moving average is $81.53. The firm has a market cap of $61.81 billion, a P/E ratio of -125.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48.

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

Marvell Technology Announces Dividend

The business 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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

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 owned 92,065 shares of the company's stock, valued at $5,993,431.50. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 over the last quarter. 0.33% of the stock is owned by insiders.

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.