Deltec Asset Management LLC Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Deltec Asset Management LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 72.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,539 shares of the semiconductor company's stock after buying an additional 40,000 shares during the quarter. Marvell Technology comprises 1.2% of Deltec Asset Management LLC's portfolio, making the stock its 22nd largest position. Deltec Asset Management LLC's holdings in Marvell Technology were worth $5,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MRVL. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $35,000. Capital Analysts LLC grew its stake in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after buying an additional 241 shares during the last quarter. Finally, Chelsea Counsel Co. purchased a new position in Marvell Technology during the fourth quarter valued at $44,000. 83.51% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief financial officer now owns 124,348 shares of the company's stock, valued at $7,460,880. This represents a 1.19% 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, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,394 shares of company stock worth $1,656,076. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MRVL shares. KeyCorp cut their target price 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. Morgan Stanley lifted their price objective on Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. China Renaissance began coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They set a "buy" rating and a $110.00 target price on the stock. Loop Capital dropped their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, Barclays decreased their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology Trading Down 1.9%

Shares of NASDAQ MRVL traded down $1.44 during mid-day trading on Friday, reaching $73.51. The company had a trading volume of 45,935,274 shares, compared to its average volume of 15,160,876. The stock has a market cap of $63.50 billion, a price-to-earnings ratio of -128.96, a price-to-earnings-growth ratio of 0.80 and a beta of 1.76. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The business's 50-day moving average is $62.02 and its 200-day moving average is $84.06. 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 (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $0.24 EPS. The company's revenue for the quarter was up 63.3% compared to the same quarter last year. Equities analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's payout ratio is -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.