Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 36.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,894 shares of the semiconductor company's stock after buying an additional 7,157 shares during the quarter. Marvell Technology accounts for 0.6% of Princeton Capital Management LLC's investment portfolio, making the stock its 29th largest position. Princeton Capital Management LLC's holdings in Marvell Technology were worth $1,656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Marvell Technology in the fourth quarter worth about $1,138,354,000. Nuveen Asset Management LLC raised its holdings in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after acquiring an additional 6,543,132 shares during the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in shares of Marvell Technology by 748.3% in the first quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after purchasing an additional 3,264,557 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

MRVL traded up $0.17 on Friday, hitting $74.21. 9,813,678 shares of the company were exchanged, compared to its average volume of 16,248,888. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The firm has a market capitalization of $64.10 billion, a P/E ratio of -130.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.81. The business's fifty day moving average is $69.95 and its 200 day moving average is $77.67.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its 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 the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $0.24 earnings per share. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. Marvell Technology's dividend payout ratio is currently -42.11%.

Insider Buying and Selling

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The shares were 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 approximately $5,993,431.50. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,934 shares of company stock worth $1,187,826 in the last ninety days. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Raymond James Financial restated an "outperform" rating and issued a $90.00 target price (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Bank of America upped their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Citigroup reduced their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC cut shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research note on Wednesday, July 16th. Finally, TD Cowen lifted their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $94.47.

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.