Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Reduced by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,945 shares of the semiconductor company's stock after selling 49,050 shares during the quarter. Nisa Investment Advisors LLC's holdings in Marvell Technology were worth $5,230,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Marvell Technology in the 4th quarter valued at about $234,000. Dynamic Advisor Solutions LLC raised its position in shares of Marvell Technology by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after buying an additional 206 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Marvell Technology during the 4th quarter worth about $45,211,000. Yousif Capital Management LLC raised its position in shares of Marvell Technology by 8.4% during the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock worth $927,000 after buying an additional 1,164 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Marvell Technology during the 4th quarter worth about $818,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Panteha Dixon sold 1,286 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00. Following the transaction, the chief accounting officer directly owned 32,094 shares of the company's stock, valued at approximately $2,086,110. The trade was a 3.85% decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MRVL shares. Evercore ISI dropped their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. UBS Group restated a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Stifel Nicolaus dropped their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Loop Capital dropped their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Benchmark restated a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a research report on Wednesday, June 18th. Eight investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.

Marvell Technology Trading Down 0.9%

Shares of Marvell Technology stock traded down $0.65 during trading on Friday, hitting $72.71. The stock had a trading volume of 9,957,323 shares, compared to its average volume of 15,795,669. The stock has a 50 day simple moving average of $67.80 and a 200 day simple moving average of $80.05. The company has a market capitalization of $62.81 billion, a PE ratio of -127.56, a P/E/G ratio of 0.79 and a beta of 1.81. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

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

Marvell Technology Dividend Announcement

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

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.