Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,460 shares of the semiconductor company's stock after acquiring an additional 19,753 shares during the quarter. Stephens Investment Management Group LLC's holdings in Marvell Technology were worth $17,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. boosted its position in shares of 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 during the period. Invesco Ltd. boosted its position in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the period. Janus Henderson Group PLC boosted its position in shares of Marvell Technology by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after buying an additional 857,087 shares during the period. Wellington Management Group LLP boosted its position in shares of Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Marvell Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after buying an additional 80,005 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Down 0.9%

MRVL opened at $72.71 on Monday. The business has a 50 day moving average price of $67.80 and a two-hundred day moving average price of $80.05. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The company has a market cap of $62.81 billion, a PE ratio of -127.56, a P/E/G ratio of 0.79 and a beta of 1.81. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm's revenue was up 63.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the transaction, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,394 shares of company stock worth $1,656,076. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Bank of America lifted their target price on Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Cantor Fitzgerald lifted their target price on Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Barclays decreased their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, China Renaissance assumed coverage on Marvell Technology in a report on Thursday, June 5th. They issued a "buy" rating and a $110.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently 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.

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