IFM Investors Pty Ltd Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

IFM Investors Pty Ltd raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,464 shares of the semiconductor company's stock after purchasing an additional 14,446 shares during the period. IFM Investors Pty Ltd's holdings in Marvell Technology were worth $11,050,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG boosted its stake in 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 worth $7,368,000 after purchasing an additional 460 shares during the period. SRS Capital Advisors Inc. lifted its position in Marvell Technology by 19.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after buying an additional 112 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Marvell Technology by 55.6% during the 4th quarter. Jones Financial Companies Lllp now owns 15,109 shares of the semiconductor company's stock worth $1,669,000 after buying an additional 5,398 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Marvell Technology by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 648,968 shares of the semiconductor company's stock valued at $71,679,000 after acquiring an additional 3,458 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Marvell Technology by 9.9% during the fourth quarter. Assetmark Inc. now owns 43,091 shares of the semiconductor company's stock valued at $4,759,000 after purchasing an additional 3,894 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Up 1.2%

Shares of NASDAQ MRVL traded up $0.90 during mid-day trading on Friday, reaching $75.15. 10,217,992 shares of the company's stock traded hands, compared to its average volume of 15,647,810. 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 1-year low of $47.09 and a 1-year high of $127.48. The stock has a market cap of $64.92 billion, a P/E ratio of -131.84, a PEG ratio of 0.81 and a beta of 1.81. The business has a 50-day simple moving average of $66.54 and a 200 day simple moving average of $81.88.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced 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. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $0.24 earnings per share. Marvell Technology's revenue was up 63.3% compared to the same quarter last year. On average, analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. Marvell Technology's dividend payout ratio is presently -42.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MRVL. Citigroup reduced their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price for the company. in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company lowered their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Barclays cut their target price on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $96.33.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 626 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president owned 626 shares in the company, valued at approximately $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares in the company, valued at $5,993,431.50. This trade represents a 6.12% decrease in their ownership of the stock. 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. 0.19% of the stock is owned by corporate insiders.

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.