Thoma Capital Management LLC Makes New $883,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Thoma Capital Management LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,994 shares of the semiconductor company's stock, valued at approximately $883,000. Marvell Technology comprises about 0.6% of Thoma Capital Management LLC's holdings, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVL. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter worth about $27,000. Financial Life Planners acquired a new stake in Marvell Technology in the fourth quarter worth about $33,000. Lee Danner & Bass Inc. acquired a new stake in Marvell Technology in the fourth quarter worth about $35,000. Finally, Capital Analysts LLC lifted its holdings in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the period. Institutional investors own 83.51% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup cut their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. B. Riley dropped their target price on Marvell Technology from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Piper Sandler restated an "overweight" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a report on Friday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $60.00 target price on shares of Marvell Technology in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $94.21.

Insiders Place Their Bets

In other news, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company's stock, valued at $6,010,797. This represents a 3.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 33,541 shares of company stock worth $2,079,948. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $4.45 during trading on Friday, reaching $59.28. 48,266,075 shares of the company traded hands, compared to its average volume of 14,540,546. The company's 50 day moving average is $58.72 and its two-hundred day moving average is $86.86. The firm has a market capitalization of $51.21 billion, a PE ratio of -34.87, a PEG ratio of 1.61 and a beta of 1.83. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. As a group, 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 declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.40%. Marvell Technology's payout ratio is currently -23.53%.

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.