Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,000 shares of the semiconductor company's stock after buying an additional 11,000 shares during the quarter. Marvell Technology makes up 3.9% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group's holdings, making the stock its 5th largest position. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group's holdings in Marvell Technology were worth $7,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Brown Advisory Inc. lifted its position in Marvell Technology by 2.2% during the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after buying an additional 423,892 shares in the last quarter. Invesco Ltd. boosted its position in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after acquiring an additional 3,737,705 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after acquiring an additional 857,087 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after acquiring an additional 80,005 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 3.7%

Marvell Technology stock traded up $2.64 during midday trading on Friday, hitting $74.65. The stock had a trading volume of 16,898,439 shares, compared to its average volume of 15,922,364. 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 business has a fifty day moving average price of $69.11 and a 200 day moving average price of $78.91. The stock has a market cap of $64.48 billion, a P/E ratio of -130.96, a P/E/G ratio of 0.81 and a beta of 1.81. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The business's revenue was up 63.3% on a year-over-year basis. Research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

Insider Activity

In other news, EVP Mark Casper sold 626 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the transaction, the executive vice president directly owned 626 shares in the company, valued at $38,248.60. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares of the company's stock, valued at $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 in the last 90 days. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Raymond James Financial reissued an "outperform" rating and issued a $90.00 target price (down from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Stifel Nicolaus decreased 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. Finally, China Renaissance assumed coverage on Marvell Technology in a research report on Thursday, June 5th. They set a "buy" rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $94.47.

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.