Quantbot Technologies LP Buys New Stake in Marvell Technology, Inc. $MRVL

Key Points

• Quantbot Technologies LP has acquired a new stake in Marvell Technology, purchasing 90,274 shares valued at approximately $5.56 million in the first quarter.
• Marvell Technology reported earnings of $0.62 per share for Q1, surpassing estimates and demonstrating a 63.3% year-over-year revenue increase to $1.90 billion.
• Insider selling has occurred recently, with the CAO and CFO selling shares, reflecting a decrease in insider ownership despite high institutional stakes of 83.51% in the company.

Quantbot Technologies LP bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,274 shares of the semiconductor company's stock, valued at approximately $5,558,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Analysts LLC increased its stake in Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 241 shares in the last quarter. Chelsea Counsel Co. acquired a new position in Marvell Technology during the 4th quarter valued at approximately $44,000. Bernard Wealth Management Corp. acquired a new position in Marvell Technology during the 4th quarter valued at approximately $45,000. Hughes Financial Services LLC acquired a new position in Marvell Technology during the 1st quarter valued at approximately $26,000. Finally, Johnson Financial Group Inc. increased its stake in Marvell Technology by 125.0% during the 4th quarter. Johnson Financial Group Inc. now owns 423 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $76.74 on Tuesday. The firm has a 50 day simple moving average of $74.45 and a 200-day simple moving average of $72.74. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year 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 stock has a market cap of $66.29 billion, a price-to-earnings ratio of -134.63, a price-to-earnings-growth ratio of 0.83 and a beta of 1.83.

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 for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the company posted $0.24 EPS. The business's revenue for the quarter was up 63.3% on a year-over-year basis. On average, analysts expect 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 was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer directly owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the transaction, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,783 shares of company stock worth $407,716. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRVL shares. Benchmark reiterated a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Rosenblatt Securities reissued a "buy" rating and set a $124.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Bank of America raised their target price on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. B. Riley reissued a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, Needham & Company LLC cut shares of Marvell Technology from a "buy" rating to a "cautious" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $94.70.

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.

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