Mirae Asset Global Investments Co. Ltd. Has $64.96 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Mirae Asset Global Investments Co. Ltd. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,064,193 shares of the semiconductor company's stock after purchasing an additional 39,029 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.12% of Marvell Technology worth $64,959,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Intrepid Financial Planning Group LLC raised its position in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc raised its position in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the last quarter. Private Trust Co. NA raised its position in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the last quarter. Tradewinds LLC. raised its position in Marvell Technology by 0.7% in the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after buying an additional 101 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Marvell Technology by 19.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock valued at $77,000 after buying an additional 112 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRVL. Evercore ISI dropped their target price on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Melius Research lifted their target price on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. KeyCorp lowered their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company lowered their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Finally, Loop Capital lowered their price target on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.33.

Marvell Technology Stock Performance

MRVL traded down $2.81 during trading on Friday, hitting $77.16. The stock had a trading volume of 27,213,956 shares, compared to its average volume of 15,462,619. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The firm has a market cap of $66.65 billion, a price-to-earnings ratio of -135.37, a P/E/G ratio of 0.84 and a beta of 1.76. The company has a 50 day moving average price of $64.38 and a 200-day moving average price of $83.06. Marvell Technology, Inc. has a one year low of $47.09 and a one year 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $0.24 EPS. The business's revenue for the quarter was up 63.3% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.31%. Marvell Technology's dividend payout ratio is presently -42.11%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer now directly owns 29,572 shares of the company's stock, valued at $2,025,682. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In 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 company 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.