Penserra Capital Management LLC Has $13.04 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Penserra Capital Management LLC lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 56.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 211,804 shares of the semiconductor company's stock after acquiring an additional 76,631 shares during the quarter. Penserra Capital Management LLC's holdings in Marvell Technology were worth $13,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MRVL. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Marvell Technology in the fourth quarter worth $234,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of Marvell Technology by 5.0% in the first 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 purchased a new position in shares of Marvell Technology in the fourth quarter worth $45,211,000. Yousif Capital Management LLC lifted its holdings in shares of Marvell Technology by 8.4% in the first 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. purchased a new position in shares of Marvell Technology in the fourth quarter worth $818,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRVL. UBS Group restated a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Bank of America boosted their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Susquehanna reduced their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research report on Tuesday, May 27th. Needham & Company LLC reiterated a "buy" rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Wednesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Marvell Technology from $100.00 to $85.00 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated 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 accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the sale, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,394 shares of company stock worth $1,656,076. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $1.61 during mid-day trading on Tuesday, hitting $73.16. The company had a trading volume of 4,278,289 shares, compared to its average volume of 15,672,569. The stock has a market cap of $63.20 billion, a price-to-earnings ratio of -128.59, a PEG ratio of 0.81 and a beta of 1.81. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. 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's 50 day simple moving average is $66.80 and its two-hundred day simple moving average is $81.24.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion for 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 for the quarter was up 63.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, equities research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

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