Simon Quick Advisors LLC Acquires 3,892 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Simon Quick Advisors LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 124.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,023 shares of the semiconductor company's stock after buying an additional 3,892 shares during the period. Simon Quick Advisors LLC's holdings in Marvell Technology were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Point72 Asia Singapore Pte. Ltd. bought a new position in Marvell Technology during the fourth quarter valued at $234,000. Everhart Financial Group Inc. bought a new stake in shares of Marvell Technology in the fourth quarter worth about $437,000. Union Bancaire Privee UBP SA bought a new stake in shares of Marvell Technology in the fourth quarter worth about $16,699,000. CIBC Asset Management Inc boosted its position in Marvell Technology by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 197,102 shares of the semiconductor company's stock valued at $21,770,000 after acquiring an additional 6,699 shares in the last quarter. Finally, WD Rutherford LLC lifted its holdings in shares of Marvell Technology by 37.7% during the fourth quarter. WD Rutherford LLC now owns 25,158 shares of the semiconductor company's stock valued at $2,779,000 after purchasing an additional 6,892 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MRVL. TD Cowen boosted their price objective on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Morgan Stanley lifted their price objective on shares of Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Stifel Nicolaus cut their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Bank of America lowered their price target on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC decreased their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.73.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 626 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the completion of the sale, the executive vice president now directly owns 626 shares of the company's stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the transaction, the chief operating officer now directly owns 81,931 shares of the company's stock, valued at approximately $5,639,310.73. The trade was a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

MRVL stock traded down $2.45 during trading on Friday, hitting $67.19. The stock had a trading volume of 14,146,733 shares, compared to its average volume of 14,765,209. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company's 50-day moving average price is $60.30 and its two-hundred day moving average price is $85.17. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The stock has a market capitalization of $58.04 billion, a P/E ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released 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 4.59% and a negative net margin of 27.49%. The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm's quarterly revenue was up 63.3% on a year-over-year basis. As a group, research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.36%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

About Marvell Technology

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.