Davis R M Inc. Has $39.68 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Davis R M Inc. increased its holdings in Marvell Technology by 6.3%, acquiring an additional 38,226 shares during the first quarter, bringing its total ownership to 644,397 shares valued at approximately $39.68 million.
• In recent analysts' reports, Marvell Technology received mixed reviews with price targets ranging from $60 to $124, and an average rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $0.06 per share, representing an annualized $0.24 with a yield of 0.29%, despite a negative dividend payout ratio of -42.11%.

Davis R M Inc. grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 644,397 shares of the semiconductor company's stock after acquiring an additional 38,226 shares during the quarter. Davis R M Inc. owned 0.07% of Marvell Technology worth $39,676,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC raised its holdings in Marvell Technology by 10.5% during the 1st quarter. Natixis Advisors LLC now owns 1,097,328 shares of the semiconductor company's stock worth $67,563,000 after buying an additional 103,943 shares during the period. Arkadios Wealth Advisors raised its holdings in shares of Marvell Technology by 177.1% during the first quarter. Arkadios Wealth Advisors now owns 15,993 shares of the semiconductor company's stock worth $985,000 after acquiring an additional 10,222 shares during the period. Tredje AP fonden lifted its position in Marvell Technology by 892.7% in the 1st quarter. Tredje AP fonden now owns 794,160 shares of the semiconductor company's stock valued at $48,896,000 after acquiring an additional 714,160 shares in the last quarter. XTX Topco Ltd boosted its stake in Marvell Technology by 58.5% in the 1st quarter. XTX Topco Ltd now owns 17,513 shares of the semiconductor company's stock worth $1,078,000 after purchasing an additional 6,461 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Marvell Technology in the 1st quarter worth $2,206,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on MRVL shares. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a research note on Thursday, May 22nd. Raymond James Financial reiterated an "outperform" rating and set a $90.00 price objective (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Melius Research boosted their target price on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft decreased their price target 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. Finally, China Renaissance began coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus 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 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 directly owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction 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 directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,434 shares of company stock valued at $1,097,826. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded down $5.34 during midday trading on Friday, hitting $75.03. 5,470,754 shares of the company traded hands, compared to its average volume of 18,723,459. The firm's fifty day moving average price is $71.31 and its 200-day moving average price is $76.63. The stock has a market cap of $64.81 billion, a price-to-earnings ratio of -131.21, a PEG ratio of 0.89 and a beta of 1.81. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

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

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology's 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.