Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 82.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,127 shares of the semiconductor company's stock after purchasing an additional 31,676 shares during the period. QRG Capital Management Inc.'s holdings in Marvell Technology were worth $4,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at $27,000. Lee Danner & Bass Inc. acquired a new position in shares of Marvell Technology in the 4th quarter valued at $35,000. Capital Analysts LLC grew its holdings in shares of Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the period. Finally, Chelsea Counsel Co. purchased a new position in shares of Marvell Technology during the 4th quarter worth $44,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 7.1%

Shares of MRVL traded up $4.96 on Thursday, hitting $74.95. 55,279,712 shares of the stock traded hands, compared to its average volume of 15,033,239. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock's 50 day moving average is $61.17 and its two-hundred day moving average is $84.80. The firm has a market capitalization of $64.74 billion, a P/E ratio of -131.49, a P/E/G ratio of 0.76 and a beta of 1.76. 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 (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The business's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share 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 issued a dividend of $0.06 per share. 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 payout ratio is currently -42.11%.

Insider Buying and Selling

In other news, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer now owns 29,572 shares in the company, valued at approximately $2,025,682. The trade was a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer now directly owns 92,065 shares in the company, valued at approximately $5,993,431.50. This trade represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,394 shares of company stock valued at $1,656,076. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on MRVL shares. Loop Capital lowered their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Needham & Company LLC restated a "buy" rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Wednesday. Stifel Nicolaus dropped their target price on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Citigroup cut their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Bank of America upped their price target on Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.33.

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.