International Assets Investment Management LLC Has $580,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

International Assets Investment Management LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 163.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,412 shares of the semiconductor company's stock after purchasing an additional 5,839 shares during the quarter. International Assets Investment Management LLC's holdings in Marvell Technology were worth $580,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $234,000. Dynamic Advisor Solutions LLC grew its position in shares of Marvell Technology by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after purchasing an additional 206 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $45,211,000. Yousif Capital Management LLC grew its position in shares of Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $818,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $2.81 during trading on Friday, reaching $77.16. The stock had a trading volume of 27,213,956 shares, compared to its average volume of 15,452,620. 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 price is $63.87 and its 200 day moving average price is $83.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The stock has a market capitalization of $66.65 billion, a PE ratio of -135.37, a P/E/G ratio of 0.82 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 12,460 shares of the business'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 value of $685,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,286 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the completion of the transaction, the chief accounting officer now owns 32,094 shares of the company's stock, valued at $2,086,110. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock worth $1,656,076 in the last quarter. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MRVL shares. Piper Sandler reissued an "overweight" rating and set a $85.00 target price (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Cantor Fitzgerald lifted their target price on Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Wall Street Zen raised Marvell Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Evercore ISI decreased their target price on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Finally, Redburn Atlantic started coverage on Marvell Technology in a research report on Wednesday, May 28th. They set a "neutral" rating and a $67.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

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.