Sava Infond d.o.o. Buys 29,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sava Infond d.o.o. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 47.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the semiconductor company's stock after buying an additional 29,000 shares during the quarter. Marvell Technology accounts for 1.1% of Sava Infond d.o.o.'s portfolio, making the stock its 19th largest position. Sava Infond d.o.o.'s holdings in Marvell Technology were worth $5,541,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MRVL. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $27,000. Lee Danner & Bass Inc. purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $35,000. Capital Analysts LLC boosted its stake in shares of Marvell Technology by 236.3% in 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. Garde Capital Inc. purchased a new stake in shares of Marvell Technology in the 1st quarter valued at $39,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $44,000. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 3.7%

Shares of NASDAQ MRVL opened at $70.78 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. 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 $61.14 billion, a PE ratio of -124.18, a price-to-earnings-growth ratio of 0.80 and a beta of 1.76. The firm has a fifty day simple moving average of $62.39 and a two-hundred day simple moving average of $83.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping 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 analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $0.24 EPS. The company's revenue for the quarter was up 63.3% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. KeyCorp cut their price objective on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Wells Fargo & Company cut their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Loop Capital cut their price objective 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. Redburn Atlantic assumed coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective for the company. Finally, Evercore ISI cut their price objective on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Six research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Insider Buying and Selling

In related news, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the transaction, the chief operating officer now owns 92,065 shares of the company's stock, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,394 shares of company stock worth $1,656,076 in the last three months. 0.33% of the stock is owned by corporate insiders.

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.

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