Charles Schwab Investment Management Inc. Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Marvell Technology, purchasing an additional 168,942 shares, bringing its total holdings to 3,596,687 shares, valued at approximately $221.4 million.
• Institutional investors collectively own 83.51% of Marvell Technology, with significant increases in stakes from firms like Vanguard Group and Goldman Sachs during the first quarter.
• Marvell Technology recently announced a quarterly dividend of $0.06 per share, with a current dividend yield of 0.3%.

Charles Schwab Investment Management Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,596,687 shares of the semiconductor company's stock after buying an additional 168,942 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.42% of Marvell Technology worth $221,448,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Coldstream Capital Management Inc. grew its stake in shares of Marvell Technology by 1.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after buying an additional 116 shares in the last quarter. Virtue Capital Management LLC grew its position in Marvell Technology by 2.1% in the fourth quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company's stock worth $856,000 after acquiring an additional 163 shares in the last quarter. Kolinsky Wealth Management LLC increased its stake in shares of Marvell Technology by 3.3% during the 4th quarter. Kolinsky Wealth Management LLC now owns 5,628 shares of the semiconductor company's stock worth $622,000 after purchasing an additional 181 shares during the last quarter. Alta Advisers Ltd raised its holdings in shares of Marvell Technology by 7.3% during the 4th quarter. Alta Advisers Ltd now owns 2,898 shares of the semiconductor company's stock valued at $320,000 after purchasing an additional 198 shares in the last quarter. Finally, Denali Advisors LLC lifted its stake in shares of Marvell Technology by 2.3% in the 1st quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company's stock valued at $536,000 after purchasing an additional 200 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MRVL. Raymond James Financial reissued an "outperform" rating and issued a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. The Goldman Sachs Group initiated coverage on shares of Marvell Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $75.00 price objective on the stock. Morgan Stanley restated an "equal weight" rating on shares of Marvell Technology in a research note on Friday. Cantor Fitzgerald raised their target price on Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Needham & Company LLC cut shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.70.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the sale, the chief accounting officer owned 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 legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer directly owned 121,348 shares in the company, 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. In the last three months, insiders have sold 15,148 shares of company stock valued at $1,014,236. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Down 0.1%

Shares of MRVL stock traded down $0.06 on Monday, reaching $77.28. 11,828,689 shares of the company were exchanged, compared to its average volume of 18,642,660. The company has a market cap of $66.76 billion, a price-to-earnings ratio of -135.58, a PEG ratio of 0.84 and a beta of 1.83. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The company has a 50-day moving average of $72.98 and a 200-day moving average of $74.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share 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 analyst estimates of $1.88 billion. During the same period last year, the firm earned $0.24 earnings per share. The business's quarterly revenue was up 63.3% compared to the same quarter last year. 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 was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were paid a $0.06 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Marvell Technology's payout ratio is presently -42.11%.

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.