KG&L Capital Management LLC Has $543,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

KG&L Capital Management LLC lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 100.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,820 shares of the semiconductor company's stock after purchasing an additional 4,424 shares during the quarter. KG&L Capital Management LLC's holdings in Marvell Technology were worth $543,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MRVL. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $234,000. Dynamic Advisor Solutions LLC raised its holdings 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 position in Marvell Technology during the fourth quarter worth $45,211,000. Yousif Capital Management LLC grew its position in 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 in the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Marvell Technology in the 4th quarter valued at $818,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Up 1.0%

MRVL stock opened at $75.93 on Thursday. The firm has a 50-day moving average price of $63.30 and a 200-day moving average price of $83.65. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $65.59 billion, a P/E ratio of -133.21, a price-to-earnings-growth ratio of 0.82 and a beta of 1.76.

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 (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 during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the company earned $0.24 EPS. The firm's quarterly revenue was up 63.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal 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 paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. UBS Group reiterated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Morgan Stanley raised their target price on shares of Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Benchmark reiterated a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, Susquehanna reduced their price target on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday, May 27th. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred 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 now directly owns 121,348 shares of the company's stock, valued at $8,314,764.96. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is currently owned by 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.

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