Lmcg Investments LLC Has $8.44 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Lmcg Investments LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,110 shares of the semiconductor company's stock after buying an additional 10,219 shares during the period. Lmcg Investments LLC's holdings in Marvell Technology were worth $8,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth $27,000. Lee Danner & Bass Inc. acquired a new stake in Marvell Technology in the fourth quarter valued at $35,000. GHP Investment Advisors Inc. boosted its stake in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 112 shares during the last quarter. Finally, Capital Analysts LLC grew its stake in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 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 related news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was 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 can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the transaction, the chief operating officer now owns 81,931 shares in the company, valued at approximately $5,639,310.73. This trade represents a 6.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,541 shares of company stock valued at $2,079,948. Insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MRVL. B. Riley decreased their target price on Marvell Technology from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Morgan Stanley raised their target price on Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup reduced their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $94.73.

Marvell Technology Stock Up 4.9%

Marvell Technology stock traded up $3.19 during trading hours on Friday, hitting $68.35. The company had a trading volume of 22,906,892 shares, compared to its average volume of 14,618,120. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. 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 firm has a market capitalization of $59.04 billion, a P/E ratio of -40.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The firm's fifty day moving average is $58.72 and its 200-day moving average is $86.16.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business's quarterly revenue was up 63.3% compared to the same quarter last year. On average, research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. Marvell Technology's dividend payout ratio is currently -42.11%.

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.