TimesSquare Capital Management LLC Raises Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

TimesSquare Capital Management LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 543,290 shares of the semiconductor company's stock after purchasing an additional 19,300 shares during the period. TimesSquare Capital Management LLC owned about 0.06% of Marvell Technology worth $33,450,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Marvell Technology during the 1st quarter valued at about $26,000. Rossby Financial LCC bought a new position in Marvell Technology in the 1st quarter worth about $27,000. Security National Bank bought a new position in Marvell Technology in the 1st quarter worth about $31,000. Lee Danner & Bass Inc. bought a new position in Marvell Technology in the 4th quarter worth about $35,000. Finally, Capital Analysts LLC grew its stake in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 241 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $0.10 during trading on Tuesday, hitting $72.41. The company had a trading volume of 15,652,536 shares, compared to its average volume of 15,811,852. The stock has a fifty day simple moving average of $68.23 and a two-hundred day simple moving average of $79.71. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The firm has a market capitalization of $62.55 billion, a price-to-earnings ratio of -127.04, a price-to-earnings-growth ratio of 0.79 and a beta of 1.81. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

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

Marvell Technology Dividend Announcement

The firm 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 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 yield of 0.33%. Marvell Technology's payout ratio is presently -42.11%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,286 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the transaction, the chief accounting officer owned 32,094 shares in the company, valued at $2,086,110. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,394 shares of company stock valued at $1,656,076. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Wall Street Zen downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group restated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Rosenblatt Securities reiterated a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, Evercore ISI decreased 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. Eight research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $94.47.

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.