Sabal Trust CO Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Sabal Trust CO raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,633 shares of the semiconductor company's stock after buying an additional 3,396 shares during the quarter. Sabal Trust CO's holdings in Marvell Technology were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Intrepid Financial Planning Group LLC grew its position in Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc grew its position in Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after buying an additional 92 shares in the last quarter. Private Trust Co. NA grew its position in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after buying an additional 97 shares in the last quarter. Tradewinds LLC. grew its position in Marvell Technology by 0.7% during the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after buying an additional 101 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Marvell Technology by 19.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after buying an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 3.5%

NASDAQ:MRVL traded down $2.81 during mid-day trading on Friday, reaching $77.16. 27,213,956 shares of the company's stock traded hands, compared to its average volume of 15,490,423. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The firm has a market capitalization of $66.65 billion, a price-to-earnings ratio of -135.37, a PEG ratio of 0.87 and a beta of 1.76. 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 company has a 50 day moving average price of $64.38 and a 200-day moving average price of $83.26.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $0.24 EPS. Marvell Technology's revenue was up 63.3% compared to the same quarter last year. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.31%. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

Analyst Ratings Changes

Several research firms recently commented on MRVL. Benchmark restated a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 price target on shares of Marvell Technology in a research note on Wednesday, June 18th. Rosenblatt Securities reaffirmed a "buy" rating and set a $124.00 price target on shares of Marvell Technology in a research note on Wednesday, June 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 12,460 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the SEC, which is accessible 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 value of $102,780.00. Following the completion of the sale, the chief financial officer now owns 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% 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. Company insiders own 0.19% of the company's stock.

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.