Tealwood Asset Management Inc. Acquires Shares of 21,424 Marvell Technology, Inc. (NASDAQ:MRVL)

Tealwood Asset Management Inc. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,424 shares of the semiconductor company's stock, valued at approximately $1,319,000.

Other large investors have also bought and sold shares of the company. Invesco Ltd. increased 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 buying an additional 3,737,705 shares during the period. Janus Henderson Group PLC grew its holdings in Marvell Technology by 6.9% in the 4th 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 increased its position 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 valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Geode Capital Management LLC raised its stake in shares of Marvell Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $1,138,354,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Loop Capital reduced their target price on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Needham & Company LLC dropped their price target on Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Raymond James reissued an "outperform" rating and set a $90.00 price objective (down from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Evercore ISI dropped their target price on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.73.

Insider Activity

In related news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the sale, the chief operating officer now directly owns 81,931 shares in the company, valued at approximately $5,639,310.73. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,541 shares of company stock valued at $2,079,948 in the last ninety days. Corporate insiders own 0.19% of the company's stock.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $0.30 during trading on Tuesday, hitting $68.84. The company's stock had a trading volume of 14,933,087 shares, compared to its average volume of 14,707,515. 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 firm has a market cap of $59.47 billion, a price-to-earnings ratio of -40.49, a P/E/G ratio of 1.61 and a beta of 1.76. The company has a 50-day moving average of $59.21 and a 200-day moving average of $85.66. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

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 the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm earned $0.24 earnings per share. The company's quarterly revenue was up 63.3% on a year-over-year basis. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

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.