Harbor Capital Advisors Inc. Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Harbor Capital Advisors Inc. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 99.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,794 shares of the semiconductor company's stock after purchasing an additional 9,874 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Marvell Technology were worth $1,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MRVL. Intrepid Financial Planning Group LLC raised its position in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc boosted its stake in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC boosted its position in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after acquiring an additional 93 shares in the last quarter. Private Trust Co. NA grew its stake in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 97 shares during the last quarter. Finally, Tradewinds LLC. raised its stake in shares of Marvell Technology by 0.7% during the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after acquiring an additional 101 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,541 shares of company stock valued at $2,079,948 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Evercore ISI lowered their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $60.00 target price on shares of Marvell Technology in a report on Friday, May 30th. Melius Research lowered Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price target for the company. in a research note on Thursday, May 22nd. Finally, Citigroup decreased their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $94.73.

Marvell Technology Trading Down 3.5%

Shares of MRVL stock traded down $2.45 during trading hours on Friday, hitting $67.19. The company had a trading volume of 14,146,733 shares, compared to its average volume of 14,741,336. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $58.04 billion, a PE ratio of -39.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. The company's fifty day moving average is $59.96 and its 200 day moving average is $85.38. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results 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 the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. Marvell Technology's revenue was up 63.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology's payout ratio is presently -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.