Vaughan Nelson Investment Management L.P. Reduces Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Vaughan Nelson Investment Management L.P. lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 29.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 689,655 shares of the semiconductor company's stock after selling 290,410 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.08% of Marvell Technology worth $42,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. CRA Financial Services LLC lifted its holdings in Marvell Technology by 133.6% in the first quarter. CRA Financial Services LLC now owns 16,897 shares of the semiconductor company's stock valued at $1,040,000 after acquiring an additional 9,665 shares during the period. Opal Wealth Advisors LLC acquired a new position in Marvell Technology in the first quarter valued at approximately $61,000. Azzad Asset Management Inc. ADV acquired a new position in Marvell Technology in the first quarter valued at approximately $996,000. Krilogy Financial LLC lifted its holdings in Marvell Technology by 18.9% in the first quarter. Krilogy Financial LLC now owns 26,301 shares of the semiconductor company's stock valued at $1,619,000 after acquiring an additional 4,187 shares during the period. Finally, Salem Investment Counselors Inc. lifted its holdings in Marvell Technology by 164.5% in the first quarter. Salem Investment Counselors Inc. now owns 6,035 shares of the semiconductor company's stock valued at $372,000 after acquiring an additional 3,753 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MRVL shares. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 target price (down from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Wells Fargo & Company reduced their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price for the company. in a research note on Thursday, May 22nd. Finally, Barclays reduced their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $94.73.

Marvell Technology Stock Down 3.5%

Shares of MRVL traded down $2.45 during midday trading on Friday, hitting $67.19. The company had a trading volume of 14,146,733 shares, compared to its average volume of 14,765,209. The company's 50-day simple moving average is $60.30 and its 200-day simple moving average is $85.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $58.04 billion, a P/E ratio of -39.52, a P/E/G ratio of 1.61 and a beta of 1.76. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data 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 4.59% and a negative net margin of 27.49%. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology's payout ratio is currently -42.11%.

Insider Activity

In other news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,541 shares of company stock valued at $2,079,948. Company insiders own 0.19% of the company's stock.

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.