Neo Ivy Capital Management Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Neo Ivy Capital Management has invested $352,000 in Marvell Technology, acquiring 5,712 shares, highlighting interest from institutional investors in the semiconductor company.
• Marvell Technology's stock received mixed analyst ratings, with target prices ranging from $73.00 to $110.00, while the consensus rating remains a “Moderate Buy” with a target price of $94.47.
• The company reported a year-over-year revenue increase of 63.3% for the last quarter, along with an earnings per share of $0.62, exceeding analyst expectations.

Neo Ivy Capital Management purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,712 shares of the semiconductor company's stock, valued at approximately $352,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at approximately $26,000. Rossby Financial LCC acquired a new position in shares of Marvell Technology in the 1st quarter valued at approximately $27,000. Security National Bank acquired a new position in shares of Marvell Technology in the 1st quarter valued at approximately $31,000. Capital Analysts LLC grew its position in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 241 shares during the period. Finally, Garde Capital Inc. acquired a new position in shares of Marvell Technology in the 1st quarter valued at approximately $39,000. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer directly owned 29,572 shares in the company, valued at $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,934 shares of company stock valued at $1,187,826. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MRVL shares. Susquehanna decreased their price objective on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research report on Tuesday, May 27th. Stifel Nicolaus reduced their price target 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. Melius Research upped their price target on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, KeyCorp reduced their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" 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 given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.47.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $1.70 during mid-day trading on Monday, reaching $75.91. The company had a trading volume of 13,229,278 shares, compared to its average volume of 18,615,148. 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, Inc. has a one year low of $47.08 and a one year high of $127.48. The firm has a market cap of $65.57 billion, a price-to-earnings ratio of -133.18, a PEG ratio of 0.80 and a beta of 1.81. The business's 50-day simple moving average is $69.95 and its 200 day simple moving average is $77.11.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the business earned $0.24 earnings per share. Marvell Technology's revenue was up 63.3% on a year-over-year basis. On average, research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -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.