Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Raised by Sargent Investment Group LLC

Sargent Investment Group LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 55.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,392 shares of the semiconductor company's stock after buying an additional 4,792 shares during the quarter. Sargent Investment Group LLC's holdings in Marvell Technology were worth $825,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. 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 stake in shares of Marvell Technology by 5.0% in the 1st 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $45,211,000. Yousif Capital Management LLC raised its stake in shares of Marvell Technology by 8.4% in the 1st 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, Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $46,389,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. This represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 626 shares of the company's stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MRVL. Benchmark reaffirmed a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Wednesday, June 18th. Bank of America boosted their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. B. Riley reaffirmed a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Marvell Technology in a research report on Wednesday, June 18th. China Renaissance began coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded up $2.64 during trading on Friday, reaching $74.65. The company had a trading volume of 16,898,439 shares, compared to its average volume of 15,922,364. The firm's fifty day moving average is $69.11 and its 200 day moving average is $78.67. The firm has a market capitalization of $64.48 billion, a PE ratio of -130.96, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. On average, equities analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business 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 dividend payout ratio is currently -42.11%.

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.