Ground Swell Capital LLC Invests $273,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Ground Swell Capital LLC has acquired 4,437 shares of Marvell Technology, valued at approximately $273,000, indicating institutional interest in the semiconductor company.
• Significant hedge funds, including Goldman Sachs and Vanguard Group, have increased their positions in Marvell Technology, showing confidence in its growth potential.
• Marvell Technology recently reported a 63.3% year-over-year increase in quarterly revenue, with EPS of $0.62, surpassing analysts' expectations.

Ground Swell Capital LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,437 shares of the semiconductor company's stock, valued at approximately $273,000.

Several other hedge funds have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG boosted its stake in shares of Marvell Technology by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock valued at $7,368,000 after purchasing an additional 460 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Marvell Technology by 12.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 51,022 shares of the semiconductor company's stock valued at $5,635,000 after purchasing an additional 5,765 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Marvell Technology by 9.1% in the 4th quarter. Townsquare Capital LLC now owns 12,731 shares of the semiconductor company's stock valued at $1,406,000 after purchasing an additional 1,062 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $413,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $214,000. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore ISI reduced their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Melius Research raised their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Stifel Nicolaus cut their target price on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Benchmark reiterated a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. Finally, Melius downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $94.70.

Marvell Technology Trading Down 0.4%

Shares of NASDAQ:MRVL traded down $0.28 during mid-day trading on Thursday, hitting $79.04. The company had a trading volume of 10,118,641 shares, compared to its average volume of 16,114,096. The firm has a fifty day moving average price of $74.14 and a 200 day moving average price of $73.68. The company has a market capitalization of $68.28 billion, a PE ratio of -138.67, a price-to-earnings-growth ratio of 0.86 and a beta of 1.83. 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, Inc. has a one year low of $47.08 and a one year high of $127.48.

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 the consensus estimate of $0.61 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. Marvell Technology's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 currently -42.11%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 sale, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,409 shares of company stock worth $445,964 in the last quarter. 0.19% of the stock is owned by corporate insiders.

About Marvell Technology

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.