Townsquare Capital LLC Has $1.57 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Townsquare Capital LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 100.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,559 shares of the semiconductor company's stock after buying an additional 12,828 shares during the period. Townsquare Capital LLC's holdings in Marvell Technology were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Hughes Financial Services LLC acquired a new position in Marvell Technology in the 1st quarter worth about $26,000. Rossby Financial LCC acquired a new position in shares of Marvell Technology during the 1st quarter valued at about $27,000. Financial Connections Group Inc. boosted its stake in Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 388 shares during the period. Vision Financial Markets LLC bought a new stake in Marvell Technology during the 1st quarter valued at approximately $28,000. Finally, Security National Bank bought a new stake in Marvell Technology during the 1st quarter valued at approximately $31,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock traded down $0.28 during midday trading on Thursday, reaching $79.04. 10,118,641 shares of the company's stock traded hands, compared to its average volume of 16,114,096. The company has a 50-day simple moving average of $74.14 and a two-hundred day simple moving average of $73.68. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The company has a market cap of $68.28 billion, a price-to-earnings ratio of -138.67, a PEG ratio of 0.86 and a beta of 1.83. 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 released its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the firm posted $0.24 EPS. The business's revenue was up 63.3% on a year-over-year basis. On average, analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the sale, the chief financial officer directly owned 121,348 shares of the company's stock, valued at approximately $8,314,764.96. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the sale, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,409 shares of company stock valued at $445,964. Company insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. TD Cowen increased their target price on Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Redburn Atlantic assumed coverage on Marvell Technology in a research note on Wednesday, May 28th. They set a "neutral" rating and a $67.00 target price for the company. China Renaissance initiated coverage on Marvell Technology in a research note on Thursday, June 5th. They set a "buy" rating and a $110.00 target price for the company. Finally, Melius Research raised their price objective on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.70.

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.