Marvell Technology, Inc. (NASDAQ:MRVL) Stake Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 51.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,835 shares of the semiconductor company's stock after acquiring an additional 26,488 shares during the period. Pallas Capital Advisors LLC's holdings in Marvell Technology were worth $4,792,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in Marvell Technology in the fourth quarter worth about $27,000. Lee Danner & Bass Inc. acquired a new position in Marvell Technology in the fourth quarter worth about $35,000. Capital Analysts LLC grew its stake in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in Marvell Technology in the fourth quarter worth about $40,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup decreased their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target for the company. in a research note on Thursday, May 22nd. KeyCorp decreased their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Cantor Fitzgerald reissued a "neutral" rating and issued a $60.00 target price on shares of Marvell Technology in a report on Friday, May 30th. Finally, UBS Group reissued a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.73.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 626 shares of Marvell Technology stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president now owns 626 shares in the company, valued at approximately $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the transaction, the chief operating officer now owns 81,931 shares in the company, valued at approximately $5,639,310.73. This trade represents a 6.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,541 shares of company stock worth $2,079,948. 0.19% of the stock is owned by insiders.

Marvell Technology Price Performance

NASDAQ:MRVL traded down $0.60 during mid-day trading on Wednesday, reaching $68.24. 13,859,792 shares of the stock were exchanged, compared to its average volume of 14,737,427. The business has a fifty day moving average price of $59.59 and a 200 day moving average price of $85.54. The firm has a market capitalization of $58.95 billion, a PE ratio of -40.14, a PEG ratio of 1.61 and a beta of 1.76. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The firm's quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology's dividend payout ratio (DPR) is -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.