Rogco LP Acquires New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Rogco LP purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,597 shares of the semiconductor company's stock, valued at approximately $283,000.

Other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. grew its stake in shares of Marvell Technology by 2.2% in the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after acquiring an additional 423,892 shares during the last quarter. Invesco Ltd. grew its stake in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after acquiring an additional 857,087 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Insider Buying and Selling

In related 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 value of $87,885.50. Following the sale, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the 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 owned 92,065 shares in the company, valued at approximately $5,993,431.50. This trade represents a 6.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 0.4%

NASDAQ:MRVL opened at $72.26 on Thursday. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $67.34 and a two-hundred day moving average price of $81.12. The company has a market cap of $62.42 billion, a P/E ratio of -126.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The business's revenue was up 63.3% on a year-over-year basis. As a group, analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal 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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price target on the stock. Cantor Fitzgerald lifted their price target on shares of Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Evercore ISI decreased their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.

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